WATCH LIVE: President Biden calls for 3-month halt to federal gas tax
President Joe Biden urged Congress to suspend the federal gas tax to provide some relief to the high prices at filling stations.
The White House estimates that eliminating the gas tax would cause revenue for the Highway Trust Fund to drop by $10 billion. The Biden administration said due to a $1.6 trillion drop in the deficit, the government can afford to suspend the gas tax while using other revenues to make the Highway Trust Fund whole.
While AAA reported that gas prices dropped below $5 per gallon on Saturday, the current rate of $4.95 a gallon remains $1.89 more than a year ago.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Biden Calls On Congress To Approve 3-Month Federal Gas Tax HolidayHere's what President Biden is calling on Congress to do to help ease the burden of high gas prices:
Weiterlesen »
President Biden calls for 3-month federal gas tax holidayJUST IN: President Biden will call on Congress to suspend the federal gas tax for three months and ask states to suspend their own gas taxes or provide commensurate relief to consumers.
Weiterlesen »
Biden calls Chevron CEO ‘mildly sensitive’ after oil exec asks president to change approach to industryPresident Biden on Tuesday said Chevon CEO Mike Wirth was being 'mildly sensitive' when asked to respond to the oil exec's plea to take a different approach.
Weiterlesen »
Biden calls on Congress to suspend federal gas taxNEW: President Biden today will call on Congress to suspend the federal gas tax for three months, ask states to do the same and demand that oil and gas companies boost production.
Weiterlesen »
Texas GOP calls Biden 'acting president'Texas GOP delegates this past weekend overwhelmingly passed a resolution rejecting the 2020 election results: 'We hold that acting President Joseph Robinette Biden Jr. was not legitimately elected.'
Weiterlesen »
President Biden to Propose 3-Month Suspension of Federal Gas TaxWhen the tax is just $0.18 per gallon, how much will consumers really notice? And what's to stop oil companies from raising prices again?
Weiterlesen »