Tackling Affordability: Trump Floats Huge Transfer to Ease Ache on the Pump
President Donald Trump told CBS News Monday that he has a plan to help Americans who are facing surging gas prices due to the conflict in Iran and the Islamic Republic’s refusal to negotiate in good faith over their nuclear weapons ambitions.
Let’s suspend the federal gas tax, he proposed:
In a phone interview with CBS News, Trump said the tax break would remain in place until prices begin falling again.
“And yep, 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,” Trump said. “We’ll be doing something on that.”
The federal excise tax currently adds 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel fuel. Suspending the tax would require approval from Congress, which has previously shown little appetite for a gas tax holiday.
Watch:
🚨 IT’S OFFICIAL: President Trump announces plans to SLASH the federal gas tax
“Yeah…as soon as Iran is over, you’re gonna see oil and gas drop LIKE A ROCK.” 🔥
“I’m going to reduce until the [tax], let me tell you, as soon as this is over with Iran, as soon as it’s over,… pic.twitter.com/8jVuOhIQS4
— Eric Daugherty (@EricLDaugh) May 11, 2026
🚨 IT’S OFFICIAL: President Trump announces plans to SLASH the federal gas tax
“Yeah…as soon as Iran is over, you’re gonna see oil and gas drop LIKE A ROCK.” 🔥
“I’m going to reduce until the [tax], let me tell you, as soon as this is over with Iran, as soon as it’s over, you’re going to see gasoline and oil drop.”
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Prices have jumped over 50 percent since Operation Epic Fury began, and as Iran continues to attack shipping in the Strait of Hormuz, the crucial Middle Eastern waterway, which not too long ago saw 20 percent of the world’s crude oil pass through.
I filled up my tank yesterday, and it was not a pleasant experience. The administration thinks some federal tax relief would make a difference:
President Trump told CBS News on Monday that he intends to suspend the federal gas tax “for a period of time” and phase it back in “when gas goes down.”
The president made the comments in a phone interview with CBS News chief White House correspondent @nancycordes. Suspending… pic.twitter.com/6jmAsmzoNX
— CBS News (@CBSNews) May 11, 2026
President Trump told CBS News on Monday that he intends to suspend the federal gas tax “for a period of time” and phase it back in “when gas goes down.”
The president made the comments in a phone interview with CBS News chief White House correspondent @nancycordes.
Suspending the excise taxes — 18.4 cents per gallon on gas and 24.4 cents a gallon on diesel — requires an act of Congress. Congress has so far shown little interest in suspending it to bring down costs.
Gas prices have soared over 50% since the start of the Iran war on Feb. 28, hitting a high of over $4.52 on Sunday, according to AAA. https://cbsn.ws/3Rxqk80
Although CBS says in the above tweet that Congress has so far shown “little interest” in suspending the tax, GOP Rep. Anna Paulina Luna (FL-13) has already responded, saying she will be taking action:
This week I will be introducing a bill in the House to suspend the federal gas tax in light of Trump’s recent remarks.
American families need this relief on gas prices. My office will be working directly with President Trump to ensure we deliver this win for the American… https://t.co/w540M6kSBB
— Rep. Anna Paulina Luna (@RepLuna) May 11, 2026
This week I will be introducing a bill in the House to suspend the federal gas tax in light of Trump’s recent remarks.
American families need this relief on gas prices. My office will be working directly with President Trump to ensure we deliver this win for the American people.
We’ll just have to wait and see whether this idea has legs, but I personally am never sad to see a tax go away, whether permanently or temporarily.
Editor’s Note: For decades, former presidents have been all talk and no action. Now, Donald Trump is eliminating the threat from Iran once and for all.
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