US President Joe Biden is close to a decision to suspend the tax on gasoline, as he told reporters.
Biden said the decision to suspend the may be a matter of a few days as Americans face large increases in gasoline prices.
«I hope to make a decision based on the information I have requested by the end of the week,» he stressed.
Yellen: Tax suspension a means to tackle inflation
US Treasury Secretary Janet Yellen was in the same vein. Speaking in Toronto after meeting with her Canadian counterpart, Yellen said the suspension of the gasoline tax should be considered as a way of dealing with inflation, even if it is «not perfect» and will probably not result in all the reduction being passed on to consumers.
According to the analyses, he said, the positive effect for consumers will be greater, if the tax imposed by the States, which is higher than the federal tax of 18.4 cents per gallon of gasoline and 24.4 cents for diesel, is suspended.
High fuel prices are «a significant burden on American households,» Yellen said. A suspension of the tax, «while not a perfect thing, is something to consider» to address inflation, she added.
