Trump Considers Suspending Federal Gas Tax as Prices Soar Above $5 Per Gallon
As gas prices surge due to the Iran conflict, President Trump and his administration are exploring suspending the federal gas tax to provide relief to American consumers. Energy Secretary Chris Wright said the administration supports 'all measures' to lower pump prices, which have become a major economic burden for American families.
Rising Gas Prices Drive Policy Discussion
As national gas price averages head toward $5 per gallon, one state has already suspended its gas tax, and now President Donald Trump and his Cabinet are talking about doing the same.
Administration Support
US Energy Secretary Chris Wright today suggested the administration may consider suspending the federal gas tax, saying the administration supports "all measures" to try and lower gas prices.
Limited Relief Expected
While a suspension would offer some relief, an NBC News analysis shows that gas prices would still average 35% more per gallon than they were at the start of the Iran war, even if all state and federal taxes were suspended.
Consumer Impact
Eight in 10 Americans say gas prices are straining their budgets, including overwhelming majorities of Democrats, independents and Republicans alike, according to the latest NPR/PBS News/Marist poll.
Congressional Requirement
Suspending the federal gas tax would require an act of Congress.