Trump Backs Temporary Federal Gas Tax Suspension as Prices Rise
President Donald Trump endorsed a temporary suspension of the federal gasoline tax, moving beyond the administration’s earlier openness to the idea as it looks for ways to ease rising fuel costs. Trump told CBS News he wants to take off the tax “for a period of time” and let it “phase back in” when gas prices fall, later adding in the Oval Office that while the levy is “a small percentage,” “it’s still money.”
The federal tax stands at 18.4 cents a gallon on gasoline and 24.4 cents on diesel, and suspending it would require an act of Congress. Hawley said he was introducing legislation to suspend the gas tax. The endorsement follows weekend comments from Energy Secretary Chris Wright that the administration was open to a gas-tax holiday, and comes as spot wholesale gasoline on the Gulf Coast rose about 14 cents a gallon on the day, according to Tom Kloza.
From the sources (25 posts)
@oilheadlinenewsU.S. Energy Secretary Says Government Open to Suspending Federal Gas Tax
@tomklozaRT @OilHeadlineNews: U.S. Energy Secretary Says Government Open to Suspending Federal Gas Tax
@staunovoU.S. Energy Secretary Says Government Open to Suspending Federal Gas Tax
@staunovoUS energy secretary leaves door open to suspending federal gas tax #oott
@axiosTrump official opens door to gas tax suspension
@meetthepressEnergy Sec. Wright says 'we're open to all ideas' amid calls to suspend gas tax: Full interview
@jenniferjjacobsRT @nbaldeon13: Energy secretary says Trump administration is open to suspending gas tax amid soaring prices
@jenniferjjacobsTrump is aiming to pause the 18-cent federal gas tax “for a period of time.” “I think it’s a great idea,” he said. “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.” @CBSNews @na
@firstsquawkTRUMP SAYS HE WANTS TO PAUSE FEDERAL GASOLINE TAX - CBS
@deitaoneTRUMP SAYS HE WANTS TO PAUSE FEDERAL GASOLINE TAX
@financialjuiceTrump wants to pause federal gasoline tax - CBS.
@firstsquawkU.S TRUMP SAYS TO CBS: WILL TAKE OFF GASOLINE TAX FOR PERIOD OF TIME
@osint613NEW: President Trump says he wants to suspend the federal gasoline tax.
@financialjuiceTrump: I will take off the gasoline tax for a period of time - CBS.
@firstsquawkPRESIDENT TRUMP SAID HE WANTS TO TEMPORARILY SUSPEND THE 18-CENT FEDERAL GAS TAX. HE SAID THE TAX CUT WOULD STAY UNTIL GAS PRICES FALL, AFTER WHICH IT WOULD BE PHASED BACK IN.
@deitaoneTRUMP SAYS HE WANTS TO PAUSE FEDERAL GASOLINE TAX: CBS TRUMP TO CBS: WILL TAKE OFF GASOLINE TAX FOR PERIOD OF TIME
@macroedgeresTrump Administration aims to lift gas tax for a period of time amid record high prices #MacroEdge
@kobeissiletterBREAKING: President Trump is considering suspending the federal gasoline tax amid surging prices, per CBS News. The tax currently adds about 18 cents per gallon.
@osint613Trump: I will take off the gasoline tax for a period of time - CBS.
@deitaoneTRUMP SAYS HE WANTS TO PAUSE 18 CENT FEDERAL GAS TAX FOR A PERIOD OF TIME -CBS
@kalshiJUST IN: Trump says he wants to "pause" federal gasoline tax
@zerohedgeTrump to pause the 18-cent federal gas tax “for a period of time.”
@staunovoRT @LiveSquawk: US President Trump: Will Take Off Gasoline Tax For Period Of Time - CBS
@staunovoRT @ZmansEnrgyBrain: President Trump says he wants to suspend the federal gasoline tax after Chris Wright said it this weekend. 1) That’s…
@meidastouchBuckle up, folks. This likely means they expect prices to get much worse. Also: it would add an estimated $2.5 billion to the national debt every month.