US considers temporarily lifting fuel tax

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US considers temporarily lifting fuel tax

US Treasury Secretary Janet Yellen supported proposals to temporarily abolish the tax on fuel as a means of combating inflation in the US.

US considers temporarily lifting fuel tax

US Treasury Secretary Janet Yellen said that proposals to temporarily eliminate the tax on fuel as a means of fighting inflation deserve consideration.

“While a temporary reduction in fuel taxes is not a perfect tool, it deserves consideration, even if not all of the reduction will be passed on to consumers,” Yellen said.

Stating that high fuel prices are a significant burden on American households, Yellen stated that the temporary reduction or elimination of the tax on fuel should be discussed, while she opposed the idea of reviving the Canada-US Keystone XL oil pipeline project to help reduce the upward pressure on oil prices.

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