President Biden on Wednesday announced his plan for sky-high gasoline prices that relied on just about everybody else – state governments, Congress, oil companies – besides the White House to do something about it, but the “call to action” was panned by just about everybody involved.
Mr. Biden called for Congress to pass a three-month suspension of the 18.4-cent-per-gallon federal tax on gasoline and the 24-cent-per-gallon federal tax on diesel.
He urged states to pause their gas taxes, many of which are higher than the federal rate. The president also asked the oil industry to lower its profits while increasing supply and refining capacity.