Trump says he will suspend petrol tax amid soaring US fuel prices
Summary
President Donald Trump announced plans to suspend the 18-cent federal tax on petrol to help Americans cope with rising fuel prices. However, ending this tax requires approval from Congress, and some lawmakers have expressed support for such a measure.Key Facts
- President Trump said he would suspend the federal petrol tax, which is currently 18 cents per gallon.
- The petrol tax generates about $2.5 billion for US roadway infrastructure annually.
- The tax suspension does not have a set end date and would remain until “appropriate,” according to Trump.
- Suspending a federal tax needs approval from the US Congress, not just the White House.
- Senator Josh Hawley, a Republican, plans to introduce a bill to suspend the petrol tax.
- Some US states like Indiana, Kentucky, and Georgia have also cut their own petrol taxes to help consumers.
- Fuel prices have risen sharply, with average petrol costs rising from $2.98 to $4.52 per gallon since February.
- The increase in fuel prices is linked to tensions and conflict involving Iran and the US-Israel war.
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