Posted on 03/30/2022 8:35:12 AM PDT by deport
As U.S. gasoline prices hover near a 14-year high, the Biden administration is exploring ways to lower fuel costs, from suspending federal gas taxes to further tapping the nation's Strategic Petroleum Reserve.
Among the options the White House is examining for reining in gas prices are reopening the Strategic Petroleum Reserve, suspending the federal gas tax and offering incentives to oil producers to increase output, Stein said.
Treasury Secretary Janet Yellen has said she is open to suspending the federal gas tax on fuel. Democrats in the Senate have introduced legislation that would suspend the 18.5-cents-per-gallon tax for the rest of the year, although critics note that doing so would deplete the Highway Trust Fund, which pays for road maintenance. Several states have already eliminated their own state gas taxes.
(Excerpt) Read more at cbsnews.com ...
Good one.
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