Marc Nozell via Flickr (CC BY 2.0)
Joe Biden is looking to raise gas prices by removing tax breaks for fossil fuel companies.
According to The Daily Wire:
President Joe Biden pushed for eliminating tax breaks for fossil fuel companies during a speech on Wednesday in Crystal Lake, Illinois, saying that extra tax revenue from those companies would help pay for his agenda.
Biden’s remarks come as fuel prices have skyrocketed across the U.S. under his administration.
“The national gas price average has increased 40% since the start of the year, from $2.25 on January 1 to $3.13 today,” AAA reported this week. “Moreover, it is not stopping there. Motorists can expect gas prices to increase another 10–20 cents through the end of August, bringing the national average well over $3.25 this summer.”
“I want to provide tax cuts for businesses and consumers who invest in clean energy technologies like renewables, battery storage, next generation aviation fuels, electric vehicles,” Biden said. “I want to set the clean electric standard that moves us to a fully clean and reliable grid.”
Plastics also come from crude oil so look for the prices of those to rise as well.