Biden weighs pause to federal gas tax to reduce prices

Robert Besser
23 Jun 2022, 15:03 GMT+10

The Biden administration is evaluating a pause on federal gas taxes as an option to help reduce prices at the pump
The Biden administration is facing record high gasoline prices and inflation, now at a 40 year high
U.S. Energy Secretary Jennifer Granholm repeated Biden's position that a recession is "not inevitable"

WASHINGTON D.C.: U.S. Energy Secretary Jennifer Granholm has said that the Biden administration was evaluating a pause on federal gas taxes as an option to help reduce prices at the pump.

Granholm said the president is currently reviewing a temporary halt to charging federal gas taxes, telling CNN that such a move was "not off the table."

Granholm's comments come as the Biden administration faces record high gasoline prices and inflation, now at a 40 year high.

Granholm has repeated Biden's position that a recession is "not inevitable," noting that labor market and consumer spending remained strong.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sydney Sun.

More Information

null in null

Business

Section

Stocks in Asia in retreat, Australian All Ordinaries loses nearly 2 percent

SYDNEY, NSW, Australia - Stocks in Asia traded sharply lower on Thursday, following on from major falls on Wall Street ...

Unable to staff airports, Germany to bring in foreign workers

BERLIN, Germany: A German Interior Ministry spokesperson has said that in a bid to relieve airports overwhelmed by staff shortages ...

France expects to reopen coal-fired power plant in Lorraine

PARIS, France: In a written statement made this week confirming a report from broadcaster RTL, France's energy ministry said the ...

U.S. stock markets struggle, dollar makes sudden jump higher

NEW YORK, New York - Wall Street struggled to find its footing on Wednesday after Fed chief Jerome Powell vowed ...

US farms planting unplanned crops due to chemical shortages

WASHINGTON D.C.: Due to persistent shortages of agricultural chemicals that threaten yields, U.S. farmers have cut back on using common ...

Northrop, Raytheon to build missile to shoot down hypersonic weapons

WASHINGTON D.C.: Raytheon Technologies and Northrop Grumman have won U.S. contracts to develop missiles to intercept hypersonic weapons.The decision means ...