![CNN gets slammed for calling drop in gas prices a 'tax break,' monthly 'raise' in your income](https://www.theblaze.com/media-library/image.jpg?id=31093896&width=1245&height=700&quality=85&coordinates=13%2C0%2C14%2C0)
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CNN was mocked online Friday over analysis that characterized falling gas prices as a “tax break” or monthly “raise."
After hitting a record high of $5.01 per gallon in mid-June, gas prices have fallen to $3.91 per gallon, according to AAA.
The glowing article, which reads like it was produced directly by the Biden administration, called the drop in gas prices "an unexpected form of economic stimulus."
"Next time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise," the analysis said.
The article claimed "the impact of the extra cash could be a substantial boost to an economy," suggesting the extra cash could "revive spending" on "nonessential" items like clothing and electronics
\u201cNext time you stop at a gas station, think of it as a $100-a-month tax cut. Or a maybe $100-a-month raise. https://t.co/7FOuCRfrJt\u201d— CNN (@CNN) 1660914376
While it is indisputable the drop in gas prices translates to real savings for Americans financially strapped by the inflation crisis, to suggest it is a "tax break" or a "raise" in disposable income neglects the fact that gas prices remain significantly higher than when Biden took office.
While Americans are benefiting from a drop in prices at the pump, those prices remain more than 160% higher today than when Biden was inaugurated in January 2021.
CNN was panned for the biased analysis; many critics pointed out that gas prices are significantly higher under Biden, which means the recent drop is still a net-increase.
Interestingly, the White House used CNN's article to heap praise on President Joe Biden, the Washington Examiner reported.
"President Biden has taken decisive action to lower prices at the pump, and the current drop in gas prices is the fastest decline in over a decade," the White House said in an email, linking to the CNN story. "Thanks to that decline, Americans are collectively spending around $400 million less each day than they would if gas prices had stayed at their peak."