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Biden suggests Republicans who criticize him for high gas prices would have Putin roll over Ukraine
Biden needs to ‘produce’ more oil in US to ‘cut’ record gas prices: Expert
American Petroleum Institute President & CEO Mike Sommers argues that the Biden administration needs to ‘produce’ more American oil production to lower record-high gas prices.
President Biden on Wednesday formally called for a federal gas tax holiday, while again blaming skyrocketing prices at the pump on Russian President Vladimir Putin and questioning whether his Republican critics would have preferred ignoring Putin’s "iron fist" in Europe in order to have lower gas prices.
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 deliver relief to American drivers.
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"Every time you go to the gas station to fill your tank, the federal government charges an 18 cents tax per gallon of gas that you purchase, and a 20 percent tax per gallon of diesel you purchase," Biden explained, noting the tax has been "around for 90 years" and that it is "important because we use it for the Highway Trust Fund to keep our highways going."
The federal government currently charges 18 cents in taxes per gallon of gasoline and 24 cents per gallon of diesel, a senior administration official said.
Biden said that by suspending the federal gas tax "we can bring down the price of gas and give families just a little bit of relief."
"I call on the companies to pass this along—every penny of this 18-cent reduction to the consumers," Biden said. "This is—there is no time now for profiteering."
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