Trump Seeks 18.4-Cent Gas Tax Holiday as Analysts Warn of $3.5 Billion Monthly Revenue Hit
Updated
Updated · Bloomberg · May 11
Trump Seeks 18.4-Cent Gas Tax Holiday as Analysts Warn of $3.5 Billion Monthly Revenue Hit
10 articles · Updated · Bloomberg · May 11
$3.5 billion a month in federal revenue would be lost if President Donald Trump suspends the 18.4-cent-per-gallon gasoline tax, independent budget analysts said.
Trump said at the White House on Monday that he wants the tax paused “until it’s appropriate,” framing the move as relief for drivers.
Congress would have to approve any federal gas tax holiday, and analysts said it remains unclear how much of the tax cut would actually reach consumers at the pump.
The proposal puts a large transportation-funding revenue stream at risk while offering uncertain savings for motorists.
How will suspending the gas tax impact America's already underfunded infrastructure and transportation projects long-term?
Could diplomacy offer more lasting relief at the pump than suspending the federal gas tax?
With consumer savings projected as minimal, who are the primary financial beneficiaries of the proposed gas tax holiday?