Tonight, with filling up at the pump becoming an expensive trip for all Americans. President B hopes to suspending the Federal gas tax will help, but some economists aren’t so sure. The President needs the Congress to do it and we’re hearing tonight from members of both parties who aren’t so sure that this is a great idea. For his part the President says temporarily lifting the Federal gas tax would give Americans just a little bit of breathing room and he criticized the energy industries for prioritizing profits over production. The national average for a gallon of regular is now $4.96 and it’s $1.89 more than it was one year ago. And today the Fed Chair told Congress he’s trying to avoid a recession, but there is a possibility.
With gas prices bumping up against $5 a gallon, President is facing mounting pressure to do something. But the controversial move he proposed today, landed with a thud on Capitol Hill and it’s not at all clear he has the votes. It’s a move that the White House has been mulling from months, the President calling on Congress today to halt a key tax for three months. The typical small SUV with the fifteen-gallon gas tank, costs about $74 dollars to fill up right now, eliminating the gas tax, $0.18 per gallon would only bring that cost down by $2.7. And that’s assuming the gas station lower their prices to reflect the full tax cut. They’re under no obligation to do so. Lawmakers from both sides tapped the brakes today. To increase savings the White House is now urging states to cut their own gas taxes. A handful of states have already done so and analysts found a modest benefit for drivers. Another step, Energy Secretary is going to be sitting down tomorrow with oil companies’ CEOs to urge them to boost production, but some of these companies actually shut down refineries during the pandemic and as a result, US crude refining capacity actually is at its lowest level in eight years.
:::tip thud
- : a dull sound : THUMP 重击声
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:::tip mulling
- : to consider at length : PONDER —often used with over 仔细考虑
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