Trump says he is weighing suspension of federal gas tax
Summary
President Donald Trump said his administration is thinking about pausing the federal gas tax to help lower fuel prices. Stopping the tax would require approval from Congress, and the tax funds roads and public transit.Key Facts
- President Trump said his administration is considering suspending the federal gasoline tax.
- The federal gas tax is 18.4 cents per gallon for gasoline and 24.4 cents for diesel.
- Suspending the tax could reduce gas prices by about 4% per gallon.
- The federal gas tax raises over $23 billion annually for highways and public transit.
- Gas prices are currently around $4.37 per gallon, more than a dollar higher than one year ago.
- Any pause on the tax requires Congress to approve; the president cannot do it alone.
- Trump expects Republicans to perform well in the upcoming midterm elections.
- He linked fuel prices to the ongoing war in Iran but did not give a timeline for when it might end.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
