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The U.S. Senate Excises the OBBBA's Revenge Tax

Summary by RealClearMarkets
Market Minder, Fisher Investments What to make of the latest tax moves in the US and abroad.

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Senator JV Ejercito is pushing for a mechanism for the automatic suspension of excise tax on petroleum products. The lawmaker pointed out that the country continues to experience fluctuating prices of petroleum products due to various global market factors such as the unrest in the Middle East. Senate Bill no. 5 proposes the automatic suspension of excise tax on regular gasoline, unleaded premium gasoline and diesel when the price of average Dub…

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RealClearMarkets broke the news in on Thursday, July 3, 2025.
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