Trump Backs Suspending Federal Gas Tax

President Trump is backing an idea to blunt drivers' pain at the gas pump: Put the federal gas tax on ice, at least for a while. In a Monday phone interview with CBS News, he called suspending the levy "a great idea," saying the tax would return once fuel prices ease. The move would require congressional approval and could cost Washington roughly $500 million a week. The tax currently adds 18.4 cents per gallon to gasoline and 24.4 cents to diesel, money that feeds the Highway Trust Fund for road and transit projects. GOP Sen. Josh Hawley said Monday on social media that he would introduce legislation to suspend the tax.

The pivot has been quick: As recently as last week, the White House said the idea of suspending the tax was not in play, notes Axios. Prices have surged more than 50% since the war with Iran began in late February, with national averages topping $4.50 a gallon on Sunday, according to AAA. In the CBS interview, Trump dismissed the need for an airline bailout despite jet fuel costs that have more than doubled and the recent shutdown of Spirit Airlines, saying carriers are "doing not badly."