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The Democratic president also called on states to suspend their own gas taxes or provide similar relief and delivered a public critique of the energy industry for prioritizing profits over production.
WASHINGTON — President Joe Biden on Wednesday called on Congress to suspend federal gasoline and diesel taxes for three months — an election-year move meant to ease financial pressures that
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Unlikely to pass a gas tax holiday through the Senate, Majority Leader Chuck Schumer (D-N.Y.) said that Democrats will focus instead on their bill to crack down on oil companies “manipulating the market” for higher prices and profits. “We’re going to focus on that issue,” Schumer said.
Lowering gas prices by 18 cents is better than nothing, but this is an election year gimmick.
NEW YORK: Oil prices tumbled about 3 percent on Wednesday as investors worried that rate hikes by the Federal Reserve could push the US economy into recession, dampening demand for fuel.Brent...