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Wednesday, 22 June 2022 15:10

Biden Asks Congress to Suspend Gas Tax to 'Bring Families Just a Little Bit of Relief'

Written by Ben Werschkul, Yahoo Finance

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President Joe Biden has moved forward with a full-throated call to suspend the federal gas tax for three months alongside other new actions to attack one of the biggest drivers of inflation.

During the speech June 22 at the White House, the president called for a suspension of both federal and state gas taxes through September---which would require new legislation from Congress---as well as new actions by the oil industry to pass along savings to consumers more quickly and also quickly increase refining capacity.

 

The suite of actions taken together has the potential to reduce the cost of a gallon of gas by around $1, Biden aides say, but each measure could face an uphill battle from lawmakers on Capitol Hill to executives at the top gas companies.

 

To read more, see Yahoo Finance.