President Donald Trump voiced support for a gasoline tax holiday to counter rising prices at the pump, as the cost of oil soars while the war with Iran drags on.
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…
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...
President Trump on Monday announced plans to slash the federal gas tax.
Congress would have to agree to any suspension, and dropping federal taxes would not make up for the steep increase in prices since the war began.
National average for gas prices has risen by well over a dollar per gallon since late FebruarySign up for the Breaking News US newsletter emailDonald Trump pledged to suspend the US federal gas tax in a bid to reduce pressure on Americans after the US-Israel war on Iran sparked a sharp rise in fuel prices.The US president told reporters on Monday that his…
Suspending the federal gas tax would require an act of Congress.
President Trump told CBS News' Nancy Cordes that he wants to temporarily lift the federal gas tax as prices continue to rise amid the ongoing war with Iran. Mr. Trump also said the latest response from Iran to end the war was "a bad proposal ... done by people that have no clue as to the danger they're in."
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.…
Here's how much a federal gas tax holiday could save drivers at the pump.
