NEW: 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.
Biden officials claim that eliminating state and federal taxes, as well as convincing oil and gas companies to pass on any savings to consumers, can lower the price of gas by about $1-per-gallon.
Biden wants Congress to divert other revenue towards the trust fund to ensure that long-term infrastructure projects are funded.In addition to blaming Vladimir Putin, Biden has been suggesting that the oil and gas industry is also responsible. On Tuesday, Michael Wirth, the CEO of Chevron, wrote to Biden to request he take a more collaborative approach and offer less "political rhetoric."
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