US President Joe Biden is expected on Wednesday to call for temporarily suspending the 18.4-cents a gallon federal tax on gasoline, a source briefed on the plan told Reuters on Tuesday.
will not provide meaningful relief at the pump for American families, but it will blow a multi-billion-dollar hole in the highway trust fund.”suspension. In February, Senate Republican Leader Mitch McConnell ridiculed a suspension backed by some Democrats, saying “they’ve spent an entire year waging a holy war on affordable American energy.
”has pulled on numerous levers to try to lower prices, including a record release of barrels from U.S. strategic reserves, waivers on rules for producing summerFuel prices have been surging around the world due to a combination of rebounding demand, sanctions on oil producer Russia after its invasion of Ukraine and a squeeze on refining capacity. Russia
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