President Joe Biden says a decision on a federal gasoline tax holiday could come by the end of the week.
REHOBOTH BEACH, Del. — President Joe Biden said Monday that he will decide by the end of the week whether to order a holiday on the federal gasoline tax, possibly saving U.S. consumers as much as 18.4 cents a gallon.
Biden said members of his team were to meet this week with CEOs of the major oil companies to discuss rising prices. Biden lashed out at oil companies, saying they are making excessive profits when people are feeling the crunch of skyrocketing costs at the pump and inflation. But Biden said he would not be meeting the oil executives himself.The Biden administration has already released oil from the U.S.
But Treasury Secretary Janet Yellen on Monday noted “consumers are really hurting from higher gas prices” and remained open to a gas tax holiday. to Biden on Wednesday that said refineries are operating near their maximum capacity already and nearly half of the capacity taken off line was due to the facilities converting to renewable fuel production.
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