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Highway Trust Fund

All articles tagged with #highway trust fund

business30 minutes ago•4 min saved

Trump's Federal Gas Tax Pause Could Bring Modest Pump Relief

A proposed temporary suspension of the federal gasoline tax (18.4 cents per gallon) would likely trim pump prices only modestly, with regular gas dipping to about $4.34/gal and diesel to $5.39/gal, since recent price hikes have outpaced the levy. It would require congressional action and would reduce Highway Trust Fund revenue (roughly $2.1 billion per month), while state tax waivers may offer more meaningful relief; experts warn the policy could have unintended market effects and limited impact on overall prices.

via CBS News|

#business #federal-tax #gas-prices

politics3 hours ago•7 min saved

Capitol Hill weighs Trump’s gas-tax pause amid funding and deficit concerns

President Trump’s proposal to suspend the federal gasoline tax is drawing attention on Capitol Hill but faces early GOP skepticism and concerns about funding the Highway Trust Fund; Hawley has introduced a 90-day halt, while others seek offsets or general-fund replacements, highlighting budget deficits as lawmakers weigh pump-relief against long-term financing in a period of high gas prices.

via Politico|

#capitol-hill #energy-policy #gas-tax-holiday

politics11 hours ago•4 min saved

Trump proposes pausing federal gas tax to curb prices amid Iran tensions

Trump floated suspending the federal gas tax (18.3¢/gal gasoline, 24.3¢/gal diesel) for an unspecified period to help lower pump prices as the Iran conflict drives costs higher; such a suspension would require congressional approval and would drain the Highway Trust Fund by about $17 billion over five months. The plan’s effectiveness is uncertain, since the tax is collected at refineries and gas prices depend on many factors, and lawmakers from both parties have proposed varying approaches to relief while the administration has already taken steps like releasing oil reserves to ease prices.

via The Washington Post|

#gas-prices #gas-tax #highway-trust-fund

politics17 hours ago•3 min saved

Trump proposes temporary suspension of federal gas tax

President Trump told CBS News he plans to suspend the federal gas tax for a period of time, a move that would require congressional action and would cost about $0.5 billion per week; Democrats have introduced bills to pause or lower the tax as gas prices rise amid Iran-related supply concerns, with revenue from the tax funding the Highway Trust Fund for roads and transit.

via CBS News|

#congress #energy-prices #gas-tax