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Mr. Biden considers stopping gasoline tax| RUSSIA-UKRAINE WAR NEWS


Mr. Biden considers stopping gasoline tax| RUSSIA-UKRAINE WAR NEWS
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President Biden considers support to stop collecting federal gasoline taxes, in an effort to stabilize record gasoline prices in the US.
“Yes, I’m thinking about it,” Biden told reporters at a beach in Delaware, when asked about the possibility of his support for a “federal gas tax holiday,” which could save consumers money. save $0.184 per gallon of gasoline (3.78 liters). “I look forward to making a data-driven decision by the end of this week.”
Data from the American Automobile Association (AAA) shows a gallon of gasoline in the country has increased 62% to $4.96 since last year. President Biden ordered the sale of an additional 45 million barrels of crude oil from the US Strategic Petroleum Reserve, and sent a letter urging US oil corporations to increase output at refineries in an effort to stabilize prices.
These efforts have yet to contain gasoline prices, so the administration is considering stopping taxes on gasoline and diesel, which help pay for highways. However, this “tax holiday” proposal could face obstacles in parliament.
“The challenge with the gas tax exemption is of course because the tax funds the roads,” Energy Secretary Jennifer Granholm said in an interview with CNN. Meanwhile, Finance Minister Janet Yellen on June 20 supported the implementation of a gasoline “tax holiday”, noting that “consumers are being seriously hurt by petrol prices”.
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