White House calls for three-month suspension of gas tax

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The White House on Wednesday said it is calling on Congress to suspend the federal gas tax for three months while also asking states to provide similar relief. The federal government charges an 18 cent tax per gallon of gasoline and a 24 cent tax per gallon of diesel. “President Biden understands that a gas tax holiday alone will not, on its own, relieve the run up in costs that we’ve seen. But the President believes that at this unique moment when the war in Ukraine is imposing costs on American families, Congress should do what it can to provide working families breathing room,” the White House said. Crude-oil futures CL.1, -4.70% slumped on Wednesday, falling over $5 per barrel.

This article was originally published by Marketwatch.com. Read the original article here.

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