President Trump said he could suspend the federal gas tax to help lower rising oil and gas prices.
“It’s something we have in our pocket if we think it’s necessary,” Mr. Trump said during Thursday’s Cabinet meeting, adding he’s “thought about it.”
The president pointed to the economy and the stock market before the Iran war started, saying the conflict would result in a “little bit of a hit” on the economy, but predicted that after the war, “its going to end going much higher than it was.”
The national gas price average is $3.98 per gallon, up from $2.98 a month ago, according to AAA. The federal government charges an 18.4 cents per gallon gas tax to fund roads and bridges.
Earlier this week, Rep. Chris Pappas, New Hampshire Democrat, introduced legislation in the House to suspend the federal gas tax through Oct. 1. Sen. Mark Kelly, Arizona Democrat, did the same in the upper chamber.
In addition, some states are mulling suspending their state taxes to address high gas prices.
• Jeff Mordock can be reached at jmordock@washingtontimes.com.
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