In an attempt to stem surging fuel prices, President Joe Biden on Wednesday called on Congress and states to take additional legislative action to provide direct relief to consumers.
Specifically, Biden is calling on Congress to suspend the federal gas tax for three months, through September, without taking any money away from the Highway Trust Fund.
He also called on states to take similar action to provide some direct relief, whether suspending their own gas taxes or helping consumers in other ways.
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Political News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.