Trump says he is weighing suspension of federal gas tax
President floats idea as voter anger over rising costs threatens Republican hopes in November midterms
TL;DR
- President Trump is considering suspending the federal gasoline tax.
- The move is in response to voter anger over high fuel costs.
- Any suspension would require an act of Congress.
- Pump prices have remained high, with regular gasoline averaging $4.3685 a gallon on Tuesday.
- The federal tax is 18.4¢ per gallon on gasoline and 24.4¢ on diesel.
- Suspending the tax could cut prices by about 4%.
- The tax generates over $23 billion annually for highways and public transit.
- Trump expressed optimism about Republican performance in the upcoming midterm elections.