“There has been some interest in the holiday. The pros of it are that it’s good PR — you’re asking about it. The cons are that there’s no guarantee that the reduction in the federal tax would be passed on to the consumer. We have no evidence to think that the oil companies would pass that on to the consumer.”
— Speaker Nancy Pelosi threw cold water on the idea of a national gas tax holiday, which some vulnerable House Democrats have embraced, Politico reports.
President Biden will ask Congress for $33 billion to help the Ukrainians fight Russia’s invasion, the Washington Post reports. “Biden’s funding request includes $20 billion in military assistance for Ukraine, $8.5 billion in economic assistance and $3 billion in humanitarian aid, among other pots of money, such as $500 million to support production of U.S. crops to address the global food shock caused by the war.”
“House Republicans’ main super PAC is booking $125 million in TV ad reservations in roughly 50 media markets across the country — a massive down payment on the party’s bid to wrest back the majority this fall,” Politico reports.
“Gross domestic product unexpectedly declined 1.4% in the first quarter, marking an abrupt reversal for an economy coming off its best performance since 1984,” CNBC reports. “The negative growth rate missed even the subdued Dow Jones estimate of a 1% gain for the quarter.” “Rising omicron infections to start the year hampered activity across the board, while inflation surging at a level not seen since the early 1980s and the Russia invasion of Ukraine also contributed to the economic stasis.”
“Other bribe suggestions: Forgive auto loans? Forgive credit card debt? Forgive mortgages? And put a wealth tax on the super-rich to pay for it all. What could possibly go wrong?”
— Sen. Mitt Romney (R-UT) said President Biden consideration of forgiving student loan debt is a sign of desperation.
“Well, there is a question of whether it’s ever appropriate to engage in an exercise in gaudy, celebrity-drenched self-adulation, but that’s a separate question.”
— David Axelrod, quoted by the New York Times, on whether it’s safe for President Biden to attend the White House Correspondents’ Association dinner, given the Covid risks.
CBS News: “Rents, which are rising by double-digits nationwide, are positively ballooning across Florida, fueled by a surge of people who relocated to the state during the pandemic. Florida’s population is growing faster than any state but Texas: Between 2020 and 2021, 300,000 people moved to the Sunshine State.
“In February, Realtor.com designated Miami as America’s least affordable place to live. Average monthly rents in the metro area, at $2,930, are on par with San Francisco and Los Angeles — and double the level considered affordable for people in the region given the local median income. Miami, Orlando and Tampa have the fastest-growing rents in the country over the past year.”