President Biden on Wednesday formally called for a federal gas tax holiday, while again accusing Russian President Vladimir Putin of skyrocketing prices at the pump and questioning whether his Republican critics are swaying Europe for low gas prices. Would have preferred to ignore Putin’s “iron fist”. ,
The president called on Congress to suspend the federal gas tax for the next 90 days. He also called on states to suspend state gas taxes or find other ways to provide relief to American drivers.
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“Every time you go to the gas station to fill your tank, the federal government charges you an 18 cent tax per gallon of gas you buy and a 20 percent tax per gallon of diesel you buy,” Biden explained, Considering tax. Has been for “almost 90 years” and it is “important because we use it for the Highway Trust Fund to keep our highways running.”
A senior administration official said the federal government currently charges 18 cents per gallon of petrol and 24 cents per gallon of diesel.
Biden said that by suspending the federal gas tax “we can lower the price of gas and provide some relief to families.”
“I call on companies to pass this on — every penny of this 18-percent shortfall to consumers,” Biden said. “That’s it—now is not the time for profiteering.”
The president, on Wednesday, however, acknowledged that the gas tax holiday “is not going to fix the problem alone” but said it would provide “some immediate relief” to families.
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The president moved into the war in Ukraine, again blaming Putin for record-high gas prices across the country.
“We could have turned a blind eye to Putin’s murderous ways. The price of gas would not have risen the way it is,” Biden said. “I believe it would have been wrong. I believed that then… and I believe the free world now had no choice.”
“America could not stand and the West could not stand, however some suggested at the time, and just watch Putin’s tanks roll in Ukraine and seize a sovereign country,” Biden said.
“So to all those Republican congressmen who are criticizing me for the high gas prices in America today, are you now saying we were wrong to support Ukraine? Are you saying we are under Putin? Were you wrong to stand together?” Biden asked.
“Are you saying we’d love to lower gas prices in the US and Putin’s hard work in Europe?” Biden asked. “I do not believe so.”
The president also said that GOP lawmakers’ claims that the US is “not producing enough oil” and that it is “limiting oil production” are “nonsense”.
Biden also sent a message on Wednesday to the companies that run gas stations and set prices at the pumps.
“This is a time of war in Ukraine, a time of global crisis,” Biden said. “These are not normal times.”
“Take down the price you’re charging at the pump to reflect the price you’re paying for your product now,” Biden said. “Do it today. Your customers, the American people, they need relief right now.”
The national average for a gallon of gas currently sits at around $5. Prior to this year, the highest national gas price average recorded by AAA was $4.11 per gallon in July 2008.
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During this, Energy Secretary Jennifer Granholm Later this week, the top seven refineries will meet to discuss how the federal government can help increase refining capacity.
Biden’s former boss, former President Barack Obama, called a gas tax on the campaign trail a “gimmick” in 2008. Obama said it would save Americans half a tank of gas over the summer so lawmakers could “say they did something.” ,
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There is also concern about the impact of the gas tax holiday on already record high inflation. Committee for a Responsible Federal Budget, a non-partisan group that advocates reducing the federal budget first argued That suspending the tax for a 10-month period could actually boost demand for gasoline and other goods and services at a time when the economy already faces high consumer demand and supply chain disruptions induced by the pandemic.