President Biden proposes reducing the gas tax
- Capitol Times
- Jun 22, 2022
- 1 min read
Responding to soaring energy prices, President Joe Biden is proposing a three-month suspension of the federal gasoline and diesel taxes.
According to Biden's plan, states will also be encouraged to either suspend their gas taxes or offer rebates to consumers. No relief payments are included in the federal plan.
In addition, the administration is urging the oil and gas industry to generate more supply and bolster refining capacity. He is also calling on retailers to lower their prices and pass the savings onto consumers.
“Gas prices are up almost $2 per gallon since Putin accelerated his military buildup,” senior administration officials told reporters in a conference call. “[T]he president promised and remains committed to doing everything he can to reduce the impact of the price hike on the American people.”
22 June 2022
