World

Biden initiates US tax abolition to lower fuel prices – UNIAN

Thus, the President intends to stimulate the decline in prices for motor fuel.

US President Joe Biden / photo REUTERS

US President Joe Biden intends on Wednesday to call on Congress to suspend the federal gasoline tax at 18.4 cents per gallon.

This is reported Reuters. Thus, the President intends to stimulate the decline in prices for motor fuel.

Biden said he was considering whether to call for a tax pause as the United States grapples with rising gas prices and inflation. The idea of ​​a gas and diesel tax holiday has faced strong opposition in Congress, including among many Democrats.

Read also:

Biden has used numerous levers to try to bring prices down, including a record release of barrels from US strategic reserves, waiving summer gasoline production rules and relying on major OPEC countries to increase production.

Earlier it was reported that the United States may introduce subsidies for the purchase of fuel for the poor. The introduction of fuel cards will allow the authorities to reduce fuel prices, but this measure may provoke inflation.

You may also be interested in the news:

Leave a Reply

Your email address will not be published.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker