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Welcome to The Logoff: President Donald Trump hopes to end the federal gas tax as his war with Iran raises prices.
Can he do it? Not himself, though it’s not clear that Trump knows: He told a reporter this morning that “we’re going to get rid of the gas tax for a while.”
Instead, he’ll need Congress to pass a bill — which it can. Democratic lawmakers previously introduced legislation to do so, and many Republicans signaled their support Monday (also already campaign issue)
It’s not a sure thing, though: Congress has never passed a gas tax holiday, including under President Joe Biden. he wanted one in 2022. On Monday, Senate Majority Leader John Thune he told reporters that “I’ve never been a fan of that idea before,” but that he would hear senators who supported it.
How much would it help? The federal gas tax is 18.4 cents per gallon, so a freeze would make a difference on the margin. It would do little to justify the price, however; gas is $4.52/gallon on average, up 38.5 cents from a month ago and more than $1.50 since the start of the war.
Suspending the gas tax would also cost the Highway Fund billions in revenue. And there’s the problem of making sure the tax breaks benefit consumers: As the Washington Post points outgas taxes are not collected directly at the pump, so some money may be sent to oil companies instead.
What about war? The most direct way to lower gas prices would be to end the war in Iran (although it would not solve the problem immediately, or even quickly) On Sunday, however, Trump dismissed Iran’s response to America’s latest peace proposal as “ABSOLUTELY UNACCEPTABLE.”
And so, it’s time to leave…
Here’s some undisclosed, grade-A good news: Coffee, it turns out, is not just good for us, but It’s really good for us. My colleague Bryan Walsh breaks down what it’s doing to us and the long scientific journey to figure it out – you can read his full article here. here is the giveaway link.
Have a good evening, and we’ll see you here tomorrow!
