News

Biden proposes to Congress to eliminate taxes on fuel sales until September

US President Joe Biden has called on the US Congress to introduce a “tax holiday” on the country’s fuel trade until the end of September to ease the burden on consumers suffering from gas station price hikes.

He stated this on Wednesday during an address to the Americans from the White House, an Ukrinform correspondent reports.

“By suspending the 18 cent tax on gasoline, the federal tax on petrol “Over the next 90 days, we can lower fuel prices and slightly ease the burden on ordinary families,” the US President said.

He also acknowledged that such “tax holidays” will not completely solve the problem, and the government will continue to work to create the conditions for a radical and long-term stabilization of fuel prices.

In this regard, US Secretary of Energy Jennifer Grenholm spoke at a press briefing at the White House on Wednesday, where she noted that the rapid rise in fuel prices was mainly due to two main factors.

First, according to her, this is Putin’s war in Ukraine and the West’s reaction to his actions, which led to the restriction of oil and gas supplies from Russia. Secondly, there were significant disruptions in energy supplies even earlier due to COVID-19.

The US Energy Secretary also confirmed that she is going to meet with the heads of major fuel producers on Thursday to discuss possible ways out of the situation.

Read also: US moves to lower fuel price amid Putin’s war – White House

As Ukrinform reported, the US and Western sanctions against the Russian Federation, a major global oil exporter in the world, have led to a shortage of fuel and increased prices at gas stations on almost all continents. Nevertheless, the democratic countries remain united in pressure on Russia for its unprovoked aggression against Ukraine.

MailBD Official

Mail BD is the online news portal, where user will get news and updates on Entertainment, Celebrity news, Technology and others.
Back to top button