Trump says he aims to suspend gas tax "for a period of time" [View all]
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Source: CBS
Washington -- President Trump said in a phone interview with CBS News Monday morning that he aims to suspend the federal gas tax "for a period of time."
"I think it's a great idea," the president said. "Yup, 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."
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. Analysts say the prices are likely to remain high with Iran blocking access to the Strait of Hormuz.
But suspending the excise taxes -- 18.4 cents per gallon on gas and 24.4 cents a gallon on diesel -- requires an act of Congress, and pausing it would cost the federal government about a half billion dollars a week.
Read more: https://www.cbsnews.com/news/trump-interview-suspending-gas-tax-iran-war/
Story also contains several odds and ends of other Trumpish pronouncement -- The excerpted bit is the breaking news.
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