Is this move fuelled by a desire to gain favors in the election or is he truely wasting public funds?
Can't read Biden's mind, but when you're asking a question like that about a politician, cynical ol' me would tell you that you'd be crazy not to think optics didn't play a part in making such a decision. But with gas at $5/gallon and inflation hitting
everyone (including those who don't even drive), I think any sitting president would probably have at least considered a gas tax holiday whether they were in their first or second terms.
And wasting public funds? Eh, Americans are taxed to death already, and there's so much bloat in the federal government that lifting the gas tax temporarily shouldn't hurt anything for very long. Plus the Fed can just crank up the money printer if they need to and create more money out of thin air if they need to. Of course, that'll lead to more inflation but nobody seemed to care before we got into this mess, right? Riiiight.