Trump says he will suspend petrol tax amid soaring US fuel prices

President Donald Trump announced he intends to suspend the 18-cent federal petrol tax to address soaring fuel prices. This move, which requires Congressional approval, aims to provide relief to American consumers. Senator Josh Hawley plans to introduce legislation to support the President's proposal. While Trump stated the tax would be waived "for a period of time" and "till it's appropriate," no specific end date was given. The White House had previously indicated consideration of this measure. The federal petrol tax generates $2.5 billion annually for US roadway infrastructure. This action comes amid rising fuel costs and follows Trump's comments on the US ceasefire with Iran being "on life support."

President Donald Trump has pledged to temporarily suspend the federal gas tax to alleviate rising fuel costs for Americans. This announcement comes as the US-Israel conflict with Iran has driven national average gasoline prices to a four-year high of $4.52 per gallon. The federal gas tax, which contributes approximately $500 million weekly to government revenue, would be paused until fuel prices stabilize. While Trump acknowledged the tax is a small portion of the overall cost, Republican lawmakers have expressed support and indicated they will introduce legislation to enact the suspension. This move is intended to provide relief amid an ongoing affordability crisis and ahead of midterm elections.