US President Joe Biden said on Monday that a decision on whether to suspend a federal tax on gasoline could be made by the end of this week.
Speaking a day after US Energy Secretary Jennifer Granholm stated that Biden was considering a temporary tax suspension, the president told reporters: “Yes, I am considering that. I hope to have a decision based on data that I am evaluating by the end of the week.”
The president also said he wanted more answers on why energy companies weren’t refining more oil.
Granholm told CNN on Sunday that the president was considering a suspension of the federal tax on gasoline to bring down the prices of the input.
The possible measure is being studied as the United States struggles to fight rising gasoline prices and inflation, which is at its highest point in 40 years.
The suspension of the federal gasoline tax is among several options being considered by the Biden administration to control inflation and rising gasoline prices.
US Treasury Secretary Janet Yellen said on Sunday that some tariffs on China inherited from the administration of former President Donald Trump had “no strategic purpose”, and added that Biden was considering removing them as well as a way of reduce inflation.
The US president further reiterated that he believes a US recession is not inevitable, adding that he had spoken with former Treasury Secretary Lawrence Summers, who told NBC News on Sunday that he expected a recession.
Source: CNN Brasil
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