agosto 13, 2022

Biden is evaluating a pause on the federal gas tax  

Biden is evaluating a pause on the federal gas tax   Biden evalúa suspender impuesto federal a la gasolina

Newsroom El Comercio de Colorado

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President Biden is evaluating a temporarily pause on federal gasoline taxes as the United States struggles to tackle soaring gasoline prices and inflation, now at its highest in 40 years. Biden told reporters: “Yes, I am considering it. I hope to make a decision based on data before the 4th of July.”

As the federal gas tax aims to reduce gas prices, the Biden administration will also attempt to decrease inflation. The president also said his team will be sitting down with oil and gas companies to get answers. “I want an explanation from them on why they are not refining more oil,” he said.

Tariffs on China

Biden is also considering a removal of some tariffs on China inherited from the Trump administration. According to Treasury Secretary Janet Yellen, removing them would help bring down inflation. Biden planned to speak with Chinese President Xi Jinping soon.

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