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the economy as we are in the midst of a recession so we will see what happens but i think it is a bad idea and ultimately when you tax a corporation they passed that through price increases. the immediate effect will be prices going up. i wouldn't technically call it inflation because inflation is a creation of money supply but it will add to the price of goods, so we have inflationary pressure plus tax pressure and it will be forcing the price of goods higher. we also have trouble in natural gas with reduced supply, with the war and inflation, tax and oil have gone up tremendously. things like natural fertilizer have gone up tremendously. if you have a tax on gas or food prices go up and when food prices go up the poorest among us of the most her because they are the least able to abide higher prices in the grocery store. >> bret: let me take you overseas, nancy pelosi in taipei tonight.
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alleviate tax pressure, that is great. but the way gas is ticking up every week, that reduction in price is eliminated in about 12 days. >> criticism is not limited to capitol hill, target ceo blasting saying it is time to change the supply and demand curve for fuel and transportation. another oil company chief is pushing back on biden accusation of profit earring and chevron ceo says your administration has sought and vilified our industry, these actions are not beneficial to meeting challenges we face and not what the american people deserve that drew a snarky response from biden. >> i didn't know they would get their feelings hurt so easily.
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who mocked him. >> carley: griff jenkins live in washington with more, hi, griff. all signs to the gas tax holiday which would amount to $0.18 per gallon. but consider this a gallon of gas just to dollar $0.39 on inauguration day this morning, $4.95 more than double when biden took office and republicans calling him out on it. senator tom cotton said it's live to cover up the fact that the policies have restricted supply and raised costs. senator scott at this to say. >> we will try to trick the market and suggest that we can reduce prices by alleviating the tax pressure. that is great, but unfortunately, the way that gas is picking up every single week, that reduction in price is eliminated in about 12 days. >> chris, unlimited to capitol hill. blasting the idea of federal gas
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can reduce your prices by alleviating the tax pressure, that's great but unfortunately, the way that gas is ticking up every single week, that reduction in price is eliminated in about 12 days. so the truth is that what we need is to restart the conversation about the keystone xl pipeline to introduce confidence into the marketplace. what we need is to have certainty and predictability so that those energy producers feel like they can invest billions of dollars to extract the energy from the soil so that we can use it in our tanks. without that certainty and predictability, without restarting the keystone xl pipeline, all we are doing is playing a game of moving things around but not actually impacting the marketplace long term. >> bret: all right. the other thing being talked about, senator is student loan forgiveness. >> yes. >> bret: some talking about how this is specifically going to help black communities gain wealth, buy homes, own homes.
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