Biden’s gas tax holiday may not lower prices at the pump

Suspending the federal gasoline tax may sound like welcome relief for US drivers paying some of the highest pump prices on record right as the summer travel season kicks into high gear. But experts warn it could bring mixed results — or even higher gas prices at the end. On Wednesday, President Joe Biden issued … Read more

Biden seeks pause in gas tax to give families a ‘bit of relief’

President Joe Biden called on Congress to suspend the federal gasoline tax, a largely symbolic move by an embattled president running out of options to ease pump prices weighing on Democrats’ political prospects. “By suspending the 18-cent federal gas tax for the next 90 days, we can bring down the price of gas and give … Read more

Biden says decision nearing on gas-tax pause, student debt

President Joe Biden said he’s aiming to decide this week whether to move to suspend the federal gasoline tax in a bid to ease the impact of soaring prices at the pump. “Yes, I’m considering it,” Biden said while speaking to reporters on the beach in Delaware on Monday. “I hope I have a decision, … Read more

Business leaders think they’re more trusted than they really are

Business executives who assume their companies are highly trusted by consumers are overestimating their level of trust, according to a new survey from PricewaterhouseCoopers. The survey, released Wednesday, found that 87% of business leaders think customers highly trust their companies, but only about 30% of consumers do. In addition, while 84% of business leaders say … Read more

Biden ally floats 21% surtax on oil profits to blunt inflation

Oil companies that record a profit margin better than 10% would face a new federal surtax under a plan developed by a key senator, as Democrats and the White House struggle to curb US energy costs and broader inflation. The proposal by Senator Ron Wyden, an Oregon Democrat who chairs the tax-writing Finance Committee, would … Read more