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On Saturday, Biden will travel to Schloss Elmau

President Joe Biden said Monday he hopes to decide soon whether to support a temporary pause in the federal gasoline tax and is nearing a decision on student loan relief as he looks to ease the burden of high prices on Americans.

"I hope to have a decision based on the data I'm looking for by the end the week," Biden told reporters by the seaside in Rehoboth Beach, Delaware, when asked whether he was considering backing a gas tax holiday.

Joe Biden says he's nearing decisions on gas tax holiday and student loans as he tries to tame costs

Such a pause in the 18.3-cent-per-gallon federal tax would require Congress to act, and there has been little traction among lawmakers on the idea so far. But the administration is eager to find areas of relief for American consumers contending with skyrocketing gas prices as the summer begins. Monday's nationwide average for gas was just under $5 per gallon.

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Biden said he is also weighing whether to back sending Americans gas rebate cards: "That's part of what we're considering, that's part of the whole operation," he said.

And questioned whether he was close to deciding on forgiving student debt, fulfilling one of his campaign promises, Biden said: "Yes."

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