Wall Street Analyst: Gas Tax Holiday Shows Biden’s Quiver Is EmptyWendell Husebø 22 Jun 2022
The Biden administration proposal to put federal gas taxes on hold is an ineffective talking point that shows the White House is out of ideas on inflation and gas prices, a client note from the investment bank ISI Evercore said Monday.
“This rollout of a politically oriented proposal that will not get enacted reinforces our belief that the White House sees little genuinely impactful that they are willing and able to do unilaterally on energy prices or inflation more broadly,” the independent investment banking advisory stated. “We continue to get questions from investors about how Democrats will respond to inflation before the midterms, and this announcement suggests that few new ideas are forthcoming.”
ISI Evercore also noted many Democrats have opposed a federal gas tax holiday, which includes former President Barack Obama and House Speaker Nancy Pelosi (D-CA).
https://twitter.com/Breaking911/status/1539673566593126404“Way back in February, when Democratic Senators first started floating a gas tax holiday, it was immediately clear to us that the idea was a non-starter in Congress and should be viewed primarily as a midterm talking point,” the organization said. “We see the lengthy indecision about whether to embrace this policy as a further indication that the White House will continue to drag its feet on difficult decisions.”
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https://www.breitbart.com/economy/2022/06/22/wall-street-analyst-gas-tax-holiday-shows-bidens-quiver-empty/
