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President Donald Trump and congressional Republicans are proposing suspending the federal gas tax as prices at the pump continue to soar ahead of the 2026 midterm elections.
Gasoline and oil
prices have soared since the U.S.-Israeli war with Iran broke out over two months ago. Iran has largely brought the Strait of Hormuz, which normally carries a fifth of the world’s oil, to a standstill since the first strikes began.
Trump said in the Oval Office on Monday that he would “reduce” the tax, shortly after saying in an interview with CBS News that he wants to pause the tax “for a period of time.”
