Trump official opens door to gas tax suspension
Summary
Energy Secretary Chris Wright said the Trump administration is open to the idea of suspending the federal gas tax to help lower high fuel prices. However, such a suspension would need Congress approval and might only reduce prices slightly.Key Facts
- The federal gasoline tax is 18.3 cents per gallon and the diesel tax is 24.3 cents per gallon.
- Gas prices in the U.S. reached an average of $4.52 per gallon, up from under $3 when the war started.
- Suspending the gas tax requires an act of Congress; the White House has not officially pushed the idea before.
- The gas tax helps fund the Highway Trust Fund, which pays for roads and bridges.
- Other White House actions include using the Strategic Petroleum Reserve and waiving the Jones Act to ease fuel supply issues.
- Even a full gas tax suspension would only lower prices by about 10 to 16 cents per gallon.
- Energy Secretary Wright noted the risks of a nuclear-armed Iran to global energy supplies despite short-term disruptions from the war.
- The administration’s statements come as midterm elections approach and energy prices remain a political concern.
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