Trump proposes pausing the federal gas tax
President Trump said he will ask Congress to suspend the 18.4-cent federal gasoline excise tax until pump prices fall. He proposed the pause as U.S. gas prices hit a four-year high after the Iran conflict pushed the national average up by well over $1 per gallon since late February. Congress would have to approve the measure, and passing the tax cut through to drivers instead of oil companies would be difficult to enforce. If fully passed through, the pause would shave 18.4 cents per gallon off prices, yielding modest per-fill savings while reducing federal revenue and complicating implementation.
Trump just announced he plans to suspend the federal gas tax. You know what would be a much better solution to skyhigh gas prices? Ending this outrageous, illegal war funded by our taxpayer dollars. (1/2)
Once again, Congress is failing to do its job. Stop the bombing overseas & start looking out for working families here at home. Pass a War Powers Resolution now. (2/2)
Suspending the fed tax gas is a full-on public confession that he can't end the war with Iran that he started.
Trump can't suspend the gas tax, though. It requires an act of Congress
Same old playbook creates a problem and claimed to solve the problem that he created. People deserve the government they have 💁🏻♂️
Now oil companies can profit more just by raising gas prices the equivalent amount of the gas tax so the customer keeps paying rhe same amount.
Washington is debating suspending the 18.4¢ federal gas tax. But nobody is talking about the REAL tax Americans are paying: the Iran war premium. It’s adding roughly $1.35 per gallon right now, costing drivers about $571 million today alone. Over 71 days? Nearly $28 billion.
When gas is $5/gal I’m not sure how many people are thinking “thank god it’s not $5.18!”
They’ll chatter about it on media, but truth, that money is used to fund transportation infrastructure, that fund would need a pay back, which knowing this administration, they’d cut more public safety nets to make up the deficit, and say how wonderful they are while destroying citizen support.
It’s not a tax. Taxes at least serve some purpose and fund the government which comes back to us in some way. This is just money out the door.
When you put it that way, it seems like rather a lot.... Biden proposed to Congress a 90-day moratorium on gas taxes in 2022. McCarthy shot it down. I suspect Trump will have better luck because he owns Congress.
The president cannot suspend the federal tax on his own. Congress would have to approve the move. https://to.pbs.org/4tveXLh
Congress? It still exists? Never stopped him before….
Oh, just like he can't raise tarriffs? Because Congress is supposed to approve that too.
“Rump touts 20 cent “solution” to a 2 dollar problem”. That’s the story here. Oh, let’s not forget gas is going up for the foreseeable future, Iran repeatedly mentions $150 per barrel.
President can't declare war either. Or raise Tarrifs. YET HERE WE ARE. I am so glad that Congress isn't alive to see this. They would have hurt themselves writing a strongly worded letter.
Q: "Are you going to suspend the federal gas tax?" Trump: "Yeah, I'm going to reduce until the — let me tell you, as soon as this is over with Iran, as soon as it's over, you're going to see gasoline and oil drop like a rock."
This - if it ever happens - will come right before the midterms.
History supports the notion that Trump doesn't know what the fuck he's talking about.
Pffffttt That federal tax It’s NOT EVEN A DOLLAR
Trump saying yet again he does not understand, have any concept of ‘supply’ - economics - reality 👿🤪🤡
after you give him and his friends another trillion tax dollars to buy overpriced weapons....
Americans can save a whole $0.18 per gallon while depleting funding for roads, bridges and public trans. 🤦♀️
Another hole in our incoming funds. Our national debt takes another hit. Does Trump know the phrase “robbing Peter to pay Paul“?
“As soon as my war of choice that gained literally nothing for America ends, the status quo will return” is not the flex he thinks it is
I… honestly don’t have a problem with this. Gas taxes have become a lot less reliable for state and federal infrastructure as vehicles with higher MPG and more EVs hit the market. I would rather it be done in conjunction with keeping the gas tax, but this is a lot more forward thinking than most.
Yes, Platner is weird and a huge dumbass, but you don’t instinctively gotta see red anytime you see something by him.
Yeah this and the guns position are just “eh fine whatever” I really really really hate his signaling support for the Van Hollen income tax slopulism even if only in a tiny blurb at the end of his broader robust tax policy. I hate income tax cuts almost as much as I hate Israel
The problem with a windfall tax is that it defines the "windfall" as being a relative increase in the price compared to a previous year, but in situations where the price of oil is stable, that would mean there is functionally no tax - and thus no tax income to support state capacity