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“When you have a big job to do, whether it’s harvesting or planting or transportation, it helps to run on gas,” said Bones. “It seems that electric vehicles have a place, but I don’t think it’s out here in flyover country.”
Despite the second straight weekly decline reported by the Labor Department on Thursday, claims are hovering near a five-month high. There have been job cuts in sectors like technology and housing amid fears of a recession as the Federal Reserve aggressively tightens monetary policy to quell price pressures.
Pres. Biden urges suspension of federal gas tax, state gas taxes; Thune, Johnson opposed
The president will also call on states to temporarily suspend state fuel taxes, which are often higher than federal rates, and he will challenge major oil companies to bring back idled refining capacity.

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Particularly galling to the White House is the jump in industry stock buybacks, returning to investors profits that the administration wants invested in more refining capacity to bring gasoline prices down.
More than a year later, price increases at 40-year peaks have proven to be anything but, so much so that the Fed this week appears ready to hike interest rates by the most since 1994 to quell them.
A hotter-than-expected inflation reading has even thrown some doubt on expectations.
Biden's plan to unveil a package to spur recovery in Latin America, help stem immigration and counter China's growing regional economic clout has been marred by Washington's decision to exclude Cuba, Venezuela and Nicaragua from the summit.
Only a handful of nations export food and even fewer international trading firms handle those exports.
The message, sent on Thursday and titled "pause all hiring worldwide," came two days after the billionaire told staff to return to the workplace or leave, and adds to a growing chorus of warnings from business leaders about the risks of recession.

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The White House plan would apply to Americans who earned less than $150,000 in the previous year, or less than $300,000 for married couples filing jointly.
Some 39 million people will travel 50 miles or more by car during the Memorial Day Weekend, up 8.3% from a year-ago and close to pre-pandemic volumes.
TOKYO — U.S. President Joe Biden said on Monday he would be willing to use force to defend Taiwan, capping a series of critical comments about China while in Asia that an aide said represented no change in U.S. policy toward the self-ruled island.

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