Gas tax holiday ‘worth considering,’ Yellen says

Treasury Secretary Janet Yellen said in an interview on ABC’s “This Week” Sunday that a federal gas tax holiday is “worth considering” as the national average for a regular gallon of gas surpassed $5 earlier this month.

While gas experts expect the national gas average to drop in the coming months, the national average continues to hover at around $5. AAA reported Sunday that the national average for a gallon of regular gas sat at $4.98.

A federal gas tax holiday would provide some relief at the pump for drivers by temporarily suspending the tax, which sits at 18.4 cents per gallon. Back in mid-March, some state governors called for a federal pause on the gas tax as the cost of gas hiked to record prices.