Parliamentarians are questioning President Biden’s plans to stop the gasoline tax – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2022-06-23 10:18:45 –

Legislators responded skeptically to President Joe Biden’s call to suspend the gasoline tax as the president is trying to fight gasoline prices near record highs.

On Wednesday, Biden urged Congress to suspend the government’s gasoline tax for three months. That’s 18 cents for regular gasoline and 24 cents for diesel. He also called on the state to suspend their respective petrol taxes. The state imposes an average gasoline tax of 31 cents per gallon.

“If you look at the problem of soaring gas prices, there is a demand problem,” said Chuck Grassley of Iowa. “And the proposal you’re hearing from the White House deals with demand issues. There are supply issues that need to be addressed.”

“We want to get more data on whether this kind of savings will actually be returned to consumers,” said Senator Mark Warner of D-Virginia. “I’ve seen other states doing this, but I don’t think the data reflects consumer interests. Gas prices are high and the president has all the tools in the toolkit. I understand that people are hurt because they have to use. “

Senator’s comments show that Biden’s plans are facing many challenges to be enacted.

The White House estimates that abolishing the gasoline tax will reduce Highway Trust’s revenue by $ 10 billion. The Biden administration said the deficit had fallen by $ 1.6 trillion and the government could afford to suspend the gasoline tax while using other revenues to build the entire Highway Trust.

Biden urged the oil industry to return savings to consumers.

“I’m playing my part. I want Congress, the state, and the industry to play their part,” he said.

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