Newsletter Jun 21, 2022

3 things you must know

Biden considering a federal gas tax holiday to ease prices
President Joe Biden said Monday that a pause on the federal gas tax is possible even as gas prices cool off. "I hope to have a decision based on the data I'm looking for by the end of the week," Biden said. Implementing a federal gas tax holiday would eliminate 18.4 cents off the price of gas per gallon at the pump. Many states have implemented "gas tax holidays" for months at a time once prices started surging. States like New York, Georgia, Connecticut, and Maryland already enacted gas tax holidays.
SEE OTHER OPTIONS THE WHITE HOUSE IS CONSIDERING

Economists expect recession despite Biden admin's spin
By the telling of the Biden administration, the writing is not on the wall that the economy is heading into a recession. But economists do not share this optimism and many say a recession is around the corner. A new survey shows a growing pessimism that the US will avoid a recession. Of 53 economists polled, 44% said that they anticipate a recession will take place in the next 12 months.
WHAT THE OTHER ECONOMISTS SAY ABOUT A RECESSION

Will Volkswagen replace Tesla as top EV producer by 2024?
A recent study predicts that Tesla will remain at the top of the market for battery-electric vehicle sales for only 18 more months before being lapped by Volkswagen. VW, which is already leading sales in Europe and expanding, will overtake Tesla by 2024. The study said the German automaker will overtake Tesla's battery-electric vehicle value and could "more than double out to 2025."
TESLA SUED BY EX-EMPLOYEES OVER MASS LAYOFFS

Markets

DJIA	29,888.78	-0.13%
S&P 500	3,674.84	0.22%
Nasdaq Composite	10,798.35	1.43%
Japan: Nikkei 225	26,214.47	1.72%
UK: FTSE 100	7,121.81	1.50%
Crude Oil Futures	111.55	1.82%
Gold Futures	1,843.10	0.14%
Yen	135.05	-0.03%
Euro	1.05	0.27%
* As of market close

Russia steps up attacks ahead of EU summit

Ukraine on Monday acknowledged difficulties in fighting in the east of the country as Russian intensified its attacks ahead of an EU summit expected to welcome Kyiv's bid to join the bloc. The governor of the Luhansk region said the situation was "extremely difficult" as the Russian army had gathered sufficient reserves to launch a large-scale offensive. Ukrainian President Volodymyr Zelenskiy predicted Moscow would escalate attacks ahead of the EU summit but remained defiant.

GET THE LATEST ON THE TWO AMERICANS HELD BY RUSSIA

Pence could be called to testify at hearing

A new round of hearings on Tuesday by the congressional committee probing the January 6, 2021 Capitol riot promises further drama, with one member saying former vice president Mike Pence might be subpoenaed. As the House select panel works to focus attention on what it says was an illegal scheme backed by Donald Trump to overturn the results of the 2020 elections, a new poll shows most Americans believe the former president should face charges.

FIND OUT WHY PENCE COULD BE SUBPOENAED TO TESTIFY

Youths sue 12 countries over climate crisis

Children have spent generations pleading with adults to address the climate crisis; now they're going to court. Five young people will file suit Tuesday against 12 European governments over an international pact that allows fossil fuel investors to sue countries into taking action on climate change. Their suit will ask the European Court of Human Rights to protect their rights by ordering governments to address the issue.

HOW THE COURTS MAY BE CLIMATE FIGHT'S NEW FRONT LINE

Gas lighting

Which U.S. states charge the highest and lowest state gas taxes?

Monday's answer: Juneteenth celebrates the official end of slavery in the U.S. in Galveston, Texas when Union forces arrived in the city on June 19, 1865 -- 2 1/2 years after the Emancipation Proclamation.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.Â