President Trump wants to suspend the federal gas tax. It would save drivers 18.4 cents per gallon of gasoline. Would require Congressional support and cut highway funding. The national average price of a gallon of gasoline has soared to $4.520 per gallon as the Strait of Hormuz remains effectively closed and the Trump administration doesn’t appear to know how to end the war they started. Drivers are fed up paying $1.385 per gallon more than a year ago, so it appears the government is eyeing ways to relieve the pain in an election year. Energy Secretary Chris Wright appeared on Meet the Press last weekend and said the Trump administration is “open to all ideas” to lower gas prices. This includes suspending the federal gas tax as he said “all measures that can be taken to lower the price at the pump and lower the prices for Americans, this administration is in support of.” More: Gas Is Up 33% From A Year Ago, And Diesel Is Closing In On Its All-Time High The federal gas tax is 18.4 cents per gallon of gasoline and 24.4 cents per gallon of diesel. The latter fuel has been hard hit as the national average is $5.636 per gallon, which is just 18 cents below its all-time high. While that would only provide a little bit of relief, President Trump seemingly embraced the idea. Earlier today, he told CBS News “We’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in.” AAA However, that’s easier said than done as suspending the gas tax would require Congress to get involved and would cost the government around $500 million per week in lost income. That being said, some Democrats and Republicans seem to be on board with the idea. As for the war in Iran, things remain at a stalemate as the countries can’t seem to reach a deal. Trump also implied the ceasefire could end soon, although the White House often makes threats without following through. White House
+5 others
