Biden asks Congress for gas tax holiday to lower record pump prices
By Trend
U.S. President Joe Biden on Wednesday called for a three-month suspension of the federal gasoline tax to combat record prices, but opposition from lawmakers within his own party suggests the request may never be met, Trend reports citing Reuters.
American families paying much more for gasoline deserve some financial relief, Biden said as he pushed Congress to act, while commenting that a suspension of the 18.4 cents per gallon tax was not enough.
"I fully understand that a gas tax holiday alone is not going to fix the problem but it will provide families some immediate relief, just a little bit of breathing room, as we continue working on bringing down prices for the long haul," Biden said.
The president also urged states to temporarily suspend state fuel taxes, which are often higher than federal rates.
He is also asking major oil companies to suggest ideas on how to bring back idled refining capacity when they meet with Energy Secretary Jennifer Granholm on Thursday.
Biden and his advisers face increasing pressure to act as record-high gas prices and overall inflation weigh on the president's opinion poll ratings and cast doubt on Democrats' chances of retaining congressional power in Nov.8 elections.
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