Here's how much a federal gas tax holiday could save drivers at the pump.
Donald Trump is planning to suspend the federal gas tax 'for a period of time' as the Iran war sends prices skyrocketing ahead of the midterm elections.
As national gas price averages head toward $5 per gallon, one state has already suspended its gas tax, and now President Donald Trump and his Cabinet are talking about doing the same.
Suspending the federal gas tax would have a modest impact on fuel prices, while also requiring congressional approval.
President Trump endorsed suspension of the federal gasoline tax in an interview with CBS News Monday.Why it matters: It marks a reversal for the White House as Republicans face political blowback over high gasoline prices.Last week the White House told Axios that a suspension was not "currently under consideration."Driving the news: "[W]e're going to take…
President Trump said he would like to suspend the 18.4-cent-a-gallon tax, but it’s a move that may save drivers only a few dollars a month.
A federal gasoline tax holiday as proposed by President Donald Trump would result in billions of dollars in lost tax revenue each month, independent budget analysts say.
President Donald Trump said he intends to suspend the federal gas tax as part of a move to curb high prices at the pump. “Yeah, I’m going to reduce,” Trump said Monday in the Oval Office in response to a question about suspending the tax. He said he would suspend the tax “until it’s appropriate.…
WASHINGTON — President Trump called Monday for the temporary suspension of the federal gas tax to give Americans relief at the pump amid surging oil prices caused by the crisis in the Strait of Hormuz. “I think it’s a great idea,” Trump told CBS News during a brief phone interview. “Yup, we’re going to take...
