President Trump said he supports a temporary halt to the federal gasoline tax as fuel costs spike amid the ongoing conflict with Iran, Just The News reported.
“I think it’s a great idea. Yup, 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,” Trump told CBS News.
The federal excise tax currently sits at about 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. These levies bring in approximately $500 million weekly to fund highway construction, road repairs, and various transit initiatives.
Eliminating the tax temporarily would need congressional action.
As of Monday, the national average for a gallon of gasoline stood at $4.52, a notable increase from $4.14 just four weeks earlier, according to AAA.
A gas tax suspension provides short term relief, but the real culprit behind soaring prices is the Iran war itself. Sensible deregulation of domestic oil and gas production paired with a foreign policy that avoids unnecessary conflicts would deliver far greater savings for American families. Protecting the American economy means both unleashing energy independence at home and refusing to wage wars that send global oil markets into turmoil.
