Trump hints at suspending gas tax: ‘how much is the federal gas tax’?

WASHINGTON: US President Donald Trump said on Monday that that he aims at suspending the federal gas tax “for a period of time.” Following his statement, customers across the United States search ‘How much is the federal gas tax’?

President Trump said in a phone interview with CBS News today that “I think it’s a great idea”. “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,” he added.

It may also be mentioned that the gas prices in US have increased by more than 50 per cent since the start of the Iran war on February 28.

Following the massive blow to the citizens in the federally administered gas prices here it hit a new 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.