Republicans Rally Around Feeble Way to Lower Gas Prices

"“I think it's a great idea,” he said. “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.” The federal government's excise tax on gasoline stands at about 18.4 cents per gallon and 24.4 cents per gallon for diesel. The current national average of a regular gallon of gasoline is $4.52 as of Monday, per AAA."

"Trump acknowledged that a tax suspension wouldn't result in significant savings for American drivers during an Oval Office event later that day. “It's a small percentage but it's still money,” he told reporters. Energy Secretary Chris Wright had suggested that the president was open to the idea."

"Now, Trump and members of his party are rallying behind a suspension of the federal gas tax as a temporary measure to bring down skyrocketing prices. But even the president isn't promising much out of this gambit. In an interview with CBS News Monday, the president signaled support for a suspension of the gas tax."

"It does not look like United States's war with Iran, which recently entered its fourth month, is ending anytime soon. Negotiations between the two countries appear increasingly fraught, with their delicately-reached ceasefire hanging in the balance; on Monday, President Trump described that ceasefire as being on “massive life support.”"

The war with Iran is continuing with negotiations becoming more difficult and a ceasefire described as being on “massive life support.” Domestic pressures persist, including rising gas prices that are approaching a $5 national average. Trump and some in his party are backing a temporary suspension of the federal gas tax to reduce costs at the pump. Trump said he supports taking off the gas tax for a period and phasing it back in when prices fall. The federal excise tax is about 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. Trump acknowledged the savings would be a small percentage but still meaningful. Energy Secretary Chris Wright indicated openness to measures that lower prices for Americans.

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