Trump weighs federal gas tax holiday as U.S. pump prices approach $5

1 min read
Source: NBC News
Trump weighs federal gas tax holiday as U.S. pump prices approach $5
Photo: NBC News
TL;DR Summary

With U.S. gas prices climbing toward $5 a gallon, Trump has floated suspending the 18-cent federal gas tax—a move that would require Congress. NBC News’s analysis shows that even a complete pause on all state and federal taxes would leave prices about 35% higher than they were at the war’s start. The average driver pays roughly 51 cents per gallon in taxes and fees, of which 18 cents go to the federal government; Georgia has already paused its own tax, and a broader pause would affect highway and transit funding via the Highway Trust Fund.

Share this article

Reading Insights

Total Reads

0

Unique Readers

13

Time Saved

3 min

vs 4 min read

Condensed

85%

62495 words

Want the full story? Read the original article

Read on NBC News