NEW YORK – President Joe Biden asked Congress this week to suspend federal gasoline taxes for three months, which would cut 18.4 cents per gallon off the price of gasoline and 24.4 cents per gallon off diesel fuel, as skyrocketing prices at gas stations continue to squeeze American families.
He has also encouraged states to suspend their gas taxes at the state and local levels.
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However, we cannot claim victory yet, as it is unclear whether Biden can push his proposal through Congress, where lawmakers, including some Democrats, are skeptical or even opposed to the idea.
Many economists are also wary of a gas tax exemption.
New York, along with Maryland, Georgia, Connecticut, have suspended state gas taxes, and more than a dozen other states are debating similar measures.
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