Supposedly hoping to help Americans who are currently struggling with soaring gas prices and inflation, President Joe Biden urged for a federal gas tax holiday. Again, while the Biden administration claimed that it would help ease some of the stress put on Americans, experts revealed that it could save citizens around $10 to $12 a month in gas. While many Democrats are supporting the move, Senator Joe Manchin, who is a Democrat, admitted on Wednesday that he wasn’t sold on the idea.
Speaking with Reporters, Senator Manchin revealed, “I’m not a yes right now, that’s for sure. Now, to do that and put another hole into the budget is something that is very concerning to me, and people need to understand that 18 cents is not going to be straight across the board — it never has been that you’ll see in 18 cents exactly penny-for-penny come off of that price.”
After calling for the tax holiday and yet again blaming Russian President Vladimir Putin for the surge in gas prices, the White House released the following statement. “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.”
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On top of President Biden’s plan to help Americans, he also urged oil companies, who he has also blamed in the past, to increase production. “I understand that many factors contributed to the business decisions to reduce refinery capacity, which occurred before I took office. But at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable.” He added, “I request that you provide the Secretary with an explanation of any reduction in your refining capacity since 2020, and any ideas that would address the immediate inventory, price, and refining capacity issues in the coming months — including transportation measures to get refined product to market.”