President Trump Proposes Temporary Suspension of Federal Gas Tax Amid Rising Fuel Prices

President Donald Trump announced plans on Monday to temporarily suspend the federal gas tax in response to escalating fuel prices linked to the ongoing conflict with Iran.

"Yeah, I'm gonna 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," Trump told reporters in the Oval Office when asked if he would suspend the tax. "Going to be dropping down like a rock."

The federal gas tax currently stands at 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. Suspending this tax would require congressional approval.

The national average for a gallon of gas in the U.S. has risen to $4.52, up from just under $3 per gallon before the conflict began. This increase is largely attributed to disruptions in the Strait of Hormuz, a critical passage for global oil shipments, which has been effectively closed due to the conflict.

Some Republican lawmakers, including Senator Josh Hawley, have expressed support for the suspension and plan to introduce legislation to that effect. However, concerns have been raised about the potential impact on the Highway Trust Fund, which relies on gas tax revenues for infrastructure projects.

In 2022, a similar proposal by then-President Joe Biden to suspend the gas tax was rejected by Congress, with critics arguing it would be ineffective in addressing the underlying issues affecting fuel prices.

The administration continues to explore measures to mitigate the economic impact of rising fuel costs on American consumers.