president of usa Joe BidenA journalist vacationing at her home in Rehoboth, Delaware, reprimanded a reporter on Monday when she asked him about the possibility of a slowdown in the country’s economy.
The reporter asked him about comments made by economic experts that “recession is more likely than ever.”
“No, most of them aren’t saying that. Come on, don’t make stuff up, okay?” Biden replied. “You sound like a Republican politician now. I kid you It was a joke,” Biden continued.
“But jokes aside, no, I don’t think it’s inevitable,” Biden said. “I was talking to former Treasury Secretary Larry Summers this morning, and nothing about the recession is inevitable,” Trump said.
Biden also noted that he is considering a temporary federal exemption from the gas tax, potentially saving US consumers up to 18.4 cents per gallon of dollars.
“Yes, I am considering it,” Biden told reporters after a walk on the beach. “I hope to make a decision based on the data, maybe by the end of the week.”
The government is looking for ways to help consumers in the face of rapidly rising fuel prices, which began rising last year and rose after Russia invaded Ukraine in February. According to the American Automobile Association (AAA), the average gas price nationwide is $5 per gallon.
The Biden administration has already released oil from the US Strategic Reserve and increased ethanol blending for the summer, in addition to sending a letter last week to oil refiners urging them to increase their refining capacity. However, those efforts have not yet significantly eased price pressure, so the government is now considering temporarily abolishing the gasoline tax. Taxes on gasoline and diesel help pay for the roads.
The Penn Wharton Budget Model (PWBM) economic think tank released estimates on Wednesday showing that gas tax breaks in Connecticut, Georgia and Maryland saved consumers. Most of the savings went to consumers in the energy sector rather than to service stations and others.
In an interview Sunday on ABC’s “This Week,” Treasury Secretary Janet Yellen expressed her desire for a federal tax break on gasoline to provide some relief to motorists.
