Biden will call the Congress to suspend the gas tax

Gas

Biden will call the Congress to suspend the gas tax.

US President Joe Biden will ask the US Congress to suspend the federal gas tax until September, as Americans across the country are facing high prices.

The president will urge members of Congress to set a three-month federal gas tax break without withdrawing money from the Highway Trust Fund that funds highways and transit.

“I want to be very clear, the president is calling on Congress to take this step to help American families without harming the Freeway Trust Fund, which is funded by these taxes,” said a senior US administration official.

The official suggested the federal government’s budget deficit, shrinking by $ 1.6 trillion this year, gives the U.S. the leeway to suspend the gas tax while using other revenue to make up the Highway Trust Fund for a cost of about $ 10 billion.

The federal government currently taxes gasoline at 18 cents per liter while diesel at 24 cents per gallon.

Biden will also call on states, oil companies and retailers to cut gas taxes.

The cost of gas began to rise last fall and continued to rise after the Russian invasion of Ukraine in late February.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post
Eye Surgery

The doctor removed the wrong eye during operation

Next Post
Nike

Nike leaves Russia completely

Related Posts