Rising gas prices are one of the big political problems the GOP is facing this year.
Topic: energyRegion: north americaUpdated: i1 outletsSources: 1Spectrum: Right OnlyFiltered: US/Canada (1/1)· Clear⏱ 2 min read
Story Summary
SITUATION
The GOP must deliver immediate tax relief before the midterms, and they can start at the pump Republicans are scrambling to show the public they are trying to reduce the cost of living before November’s midterm elections. Some want to use new tax policies in a proposed third reconciliation bill to do that.
Coveragetap to expand ▾Spectrum: Right Only🌍US: 1
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KEY FACTS
- If they do, two changes are best suited politically and economically: temporarily suspending the federal gasoline tax and reducing the payroll tax by 2 percentage points for the remainder of the year.
- Temporarily suspending the federal gasoline tax is a small but tangible way to cut prices at the pump in lieu of ending the war.
- Suspending the tax for the duration of the closure of the strait would lower prices at the pump, letting drivers see each time they fill up their tank that Congress is trying to do something to help.
HISTORICAL CONTEXT
Sources
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