22 June 2022

US President Asks Congress to Suspend Fuel Tax For Three Months

International and Arabic
  • QNA_BIDEN-USA030502022

Washington, June 22 (QNA) - US President Joe Biden requested the Congress today to suspend a federal tax on high fuel prices for three months.
US President said in a televised speech, today, that he is in the process of doing everything necessary to stop the price increase caused by Russian President Vladimir Putin and reduce fuel and food prices, adding that the price of fuel can be reduced by suspending taxes at the state level as well, noting that the price of oil has declined over the past two weeks, but this was not reflected in fuel prices at supply stations.
He reiterated his demand for oil companies to increase refining capacity to meet the high fuel prices, and said that the United States produced 12 million barrels of oil per day during the recent period, which is more than it was produced during the period of the former president.
President Biden, who will face a few months later the midterm elections, wants to suspend the federal tax of 18 cents on every gallon (3.78 liters) until next September, to ease the burden directly on American consumers, as the average price of a gallon of gasoline has reached a record level. It reached 5 dollars in the United States, compared to about 3 dollars a year ago, and this rise is reflected in the national economy, which led to the decline in the popularity of the American president to less than 40 percent, according to opinion polls, and annual inflation in the United States reached its peak with 8.6 percent in last May, the highest level in 40 years. (QNA)


Economy, International
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