President Trump revealed a new plan on Monday to bring down gas prices that have soared since he chose to start a war with Iran: He wants to suspend federal gas taxes.
“I think it’s a great idea,” Mr. Trump said in a phone call with a reporter from CBS News on Monday morning. “Yup, we’re going to take off the gas tax for a period of time, and when gas goes down, we’ll let it phase back in.” A short while later, he mused more about the plan while speaking to reporters in the Oval Office.
He did not mention that such a move would require congressional approval. Asked when or even if the administration planned to approach lawmakers on Capitol Hill about suspending the tax, a representative for the White House said simply: “We refer you to the president’s comments from earlier today.”
Even if Mr. Trump succeeded in pausing federal gas taxes, prices might come down only a smidgen: federal taxes are a little over 18 cents a gallon for gasoline and about 24 cents a gallon for diesel. Prices are up about 50 percent since the war began.
The president acknowledged in the Oval Office on Monday that the drop would be slight.
“It’s a small percentage,” he said, “but it’s, you know, it’s still money.”
Some of Mr. Trump’s foes mocked the idea as too little, too late. “Yes please do throw the peasants some more bread crumbs,” Marjorie Taylor Greene, the former representative, posted on X.
Senator Mark Kelly, Democrat of Arizona, said he approved of Mr. Trump’s proposal. “Families need help now,” Mr. Kelly wrote. “Let’s get it done.” (Mr. Kelly had first proposed this idea back in March.)
The administration floated a halt to the gas tax — which funds road construction and repairs across the country — on Sunday, when the energy secretary, Chris Wright, proposed it on NBC’s “Meet the Press.” He said that “all measures that can be taken to lower the price of at the pump and lower the prices for Americans, this administration is in support of.”
Last month, Mr. Wright admitted that gas prices may remain elevated for months, even as the president promises they’ll plummet any day now. So far, studies have shown that the higher gas prices have hit lower-income Americans the hardest.
“As soon as this is over with Iran,” Mr. Trump said on Monday, “you’re going to see gasoline and oil drop like a rock.”
And yet, how soon is soon? He used that same meeting to shred the Iranians’ latest counterproposal as a “piece of garbage,” and said that the cease-fire was on “life support.” He insisted that Iran was in the grips of a powerful faction of “lunatics” who wanted to fight on for as long as possible.
In 2022, President Biden proposed this same idea to bring gas prices down. It never happened. Congress balked. Republicans slammed the idea as gimmicky and bad policy.
