Biden Calls for Gas Tax Holiday
Gas prices are a major problem hurting Americans, and President Joe Biden seems unsure of what to do about it.
From Fox Business. Energy Secretary Jennifer Granholm indicated that President Joe Biden has considered using the Defense Production Act to help mitigate the record-high gas prices, but stressed that it is just “one” of the tools at the president’s disposal….
Granholm cited a number of factors for the record prices, including a shortage of supply due to the war in Ukraine and Russian embargoes, as well as general inflation pushing prices higher across the board.
“So we know that the war in Ukraine, having driven up the price of fuel … we’ve got to make up for the million barrels per day that we’ve lost,” Granholm told reporters. “We will have a demand problem when China opens up, and there will be additional upward pressure on supply.”
Granholm stressed the belief that “no president alone” can control gas prices and claimed the U.S. needs “More players at the table,” which led to the president appealing to Congress to enact a gas tax holiday.
Biden announced he would call on Congress to approve a gas tax pause for three months. The federal government currently charges 18 cents in taxes per gallon of gasoline and 24 cents per gallon of diesel, the official said….
Granholm previously hinted that Biden might take other, more drastic actions to help combat record-high gas prices. During an appearance Sunday on “State of the Union,” she noted that the president has a number of tools to use, including the Defense Production Act to try and direct resources….
What do you think of Biden’s gas tax holiday idea? Share your thoughts and prayers below.
(Excerpt from Fox Business. Photo Credit: Getty Images)
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