Sen. Tom Carper (D-DE) has called President Joe Biden’s calls for a three-month suspension of federal gasoline and diesel taxes ‘short-sighted and ineffective’ while others call it a gimmick and call on Biden to increase domestic oil production.
“I’m glad @POTUS is exploring ways to lower gas prices at the pump,” Carper wrote in a tweet. “Yet suspending the main way we pay for infrastructure projects on our roads is a short-sighted and ineffective way to provide relief.”
I’m happy that @POTUS explores ways to reduce gas prices at the pump. Yet suspending the main way we pay for infrastructure projects on our roads is a short-sighted and ineffective way to provide relief. We should explore other options to reduce energy costs.
— Senator Tom Carper (@SenatorCarper) June 21, 2022
On Wednesday, the Biden administration called on Congress to implement a gasoline tax exemption after months of unprecedented and record high prices at the pumps under Biden’s leadership. The state gasoline tax is 18 cents per gallon, while the federal diesel tax is 24 cents per gallon. Biden himself also called on “states to also suspend the state gas tax or find other ways to provide some relief.”
In a statement, the White House said “President Biden understands that a gas tax exemption alone will not be enough to alleviate the increased costs we have seen,” as reported. Breitbart News.
Marc Goldwein, Senior Vice President and Senior Policy Director at the Committee for a Responsible Federal Budget, torn up the proposal as “a total gimmick” while appearing on Fox News Channel Special reportadding that this will only exacerbate inflation.
“At best, this will reduce the rate of inflation over the next three months by 0.1%,” he explained. “And then as soon as the holidays are over, it’s actually going to make inflation worse than if there were no holidays at all.”
House Ways and Means Committee filing representative Kevin Brady (R-TX) also criticized the idea during his appearance on Fox Business Network. Evening edition. He pointed out that Biden did not know where the funds would come from to top up the Highway Trust Fund, adding:
There is no guarantee that it will end after three months. We know how fanciful Congress can be. And you’re right, the prices keep going up, so even with that little temporary saving of 18 cents, it’s going to be gobbled up. You have to get to the heart of the matter, which is we have to produce more, refine more, ship more here in America. And as long as he’s married to this Green New Deal, we’re not going to see any relief.
In its statement, the Biden administration once again blamed the exorbitant price of gasoline and diesel on the Russian invasion of Ukraine. The “president believes that at this unique time when the war in Ukraine is imposing costs on American families, Congress should do what it can to give working families a break,” White House officials said in a statement. the press release.
The administration has called the rising costs “Putin’s price hike” for months, and the president again blamed Putin for it on Wednesday.
Gasoline prices have risen nearly $2 a gallon since Putin ramped up his military buildup, and those high prices pose a challenge for working families.
Today, I call on Congress to suspend the federal gas tax for three months to provide Americans with much-needed relief.
— President Biden (@POTUS) June 22, 2022
A fact check by Breitbart News found the sentiment to be “false”, noting that rising global demand and a shortage of investment capital are driving up gasoline prices. The investment capital void was “caused, in part, by ESG investing, Biden’s promise to end fossil fuels, and regulators discouraging fossil fuel production,” as noted by Breitbart News.