Treasury Secretary Janet Yellen says a federal gas tax holiday is 'certainly worth considering'

As motorists continue to bear the brunt of high fuel costs, the treasury secretary expressed an openness to a federal gas tax holiday.

During an interview on ABC's "This Week," the former Federal Reserve chair told host George Stephanopoulos that the proposal is worth considering by the Biden administration.

She said that the president wants to help consumers. "Gas prices have risen a great deal and it's clearly burdening households so he stands ready to work with Congress and that's an idea that's definitely worth considering."

As of Sunday, the price of gas is less than $5 a gallon, and many lawmakers are looking into suspending the federal gas tax as a way to give relief to consumers.

The interviewer brushed off the idea that a recession is inevitable.

Wages have risen but not enough to counteract the effects of inflation on American consumers.

She said that President Biden's top priority is to bring it down and that Powell's goal is to bring inflation down while maintaining a strong labor market. It will take skill and luck, but I don't think a recession is inevitable.

If Biden supports the idea of a gas tax holiday, more Democrats will support it.

The congressman from Oregon wrote a letter to the vice president asking him not to suspend the gas tax because it would blow a huge hole in the federal transportation and infrastructure budget.

The congressman said that a reduction in the federal gas tax would hurt the projects in the infrastructure bill.

State gas tax holidays have been enacted in several states.