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Taxes cut in response to energy prices

US President Joe Biden has called for a three – month suspension of the US National Petrol Tax in response to rising energy prices in the country.

Commenting on this, analysts say that the removal of the tax will have a limited impact on the cost of petrol and diesel.

But a high-ranking Republican senator dismissed it as “nonsense.”

He also described the move as a failure, primarily to benefit oil and gas companies.

But the president says policymakers should do what they can to ease the tensions of the people. (colombotime.lk)

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