Trending Now - Trump Suggests Pausing Federal Gas Tax to Combat Price Surge

WHO:

[11:03 AM EDT] - CBS News - President Trump made comments regarding the federal gas tax.

[11:03 AM EDT] - CBS News - Nancy Cordes is the chief White House correspondent for CBS News.

WHAT:

[11:03 AM EDT] - CBS News - Trump stated he would "reduce" the gas tax "until it's appropriate."

[11:03 AM EDT] - CBS News - Trump mentioned that suspending the federal gas tax requires an act of Congress.

[11:03 AM EDT] - CBS News - Trump said, "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."

[11:03 AM EDT] - CBS News - Trump indicated that gas prices are likely to remain high with Iran blocking access to the Strait of Hormuz.

[11:03 AM EDT] - CBS News - Trump stated that suspending the federal gas tax would have a "modest impact" on fuel prices, while also requiring congressional approval.

[11:03 AM EDT] - CBS News - Trump mentioned that gas prices have soared over 50% since the start of the Iran war, hitting a high of over $4.52 on a recent Sunday, according to AAA.

[11:03 AM EDT] - CBS News - Trump said, "I did. I knew they closed it. That's the only weapon they have," referring to the Strait of Hormuz.

[11:03 AM EDT] - CBS News - Trump indicated that the U.S. could have opened the Strait of Hormuz under Project Freedom and suggested it could resume and be "much more severe."

[11:03 AM EDT] - CBS News - Trump stated he intends to suspend the federal gas tax "for a period of time" and phase it back in "when gas goes down."

[11:03 AM EDT] - CBS News - Trump said, "But no, we're gonna, we'll, we'll be doing something on that. Yes."

[11:03 AM EDT] - CBS News - Trump criticized Iran's response to the U.S. peace proposal, stating it made concessions on its nuclear program, but "not enough," and called it a "very stupid proposal."

[11:03 AM EDT] - CBS News - Trump mentioned that the U.S. could have opened the Strait of Hormuz under Project Freedom and suggested it could resume and be "much more severe."

[11:03 AM EDT] - CBS News - Trump stated he would like to temporarily suspend the federal gas tax as prices soar due to the war in Iran.

[11:03 AM EDT] - CBS News - Gas prices have soared over 50% since the start of the Iran war on February 28, hitting a high of over $4.52 on Sunday, according to AAA.

[11:03 AM EDT] - CBS News - Trump stated that suspending the federal gas tax would have a "modest impact" on fuel prices.

[11:03 AM EDT] - CBS News - Trump mentioned that Congress has shown "little interest" in suspending the gas tax to reduce costs.

[11:03 AM EDT] - CBS News - President Trump stated he would "reduce" the federal gas tax "until it's appropriate."

[11:03 AM EDT] - CBS News - Trump mentioned, "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."

[11:03 AM EDT] - CBS News - Trump described the U.S. military operation that could guide ships through the Strait of Hormuz as "Project Freedom."

[11:03 AM EDT] - CBS News - President Trump intends to suspend the federal gas tax "for a period of time."

[11:03 AM EDT] - CBS News - The federal gas tax is 18.4 cents per gallon on gas and 24.4 cents per gallon on diesel.

[11:03 AM EDT] - CBS News - Gas prices have increased over 50% since the start of the Iran war on February 28, hitting a high of over $4.52.

WHERE:

[11:03 AM EDT] - CBS News - The comments were made in Washington.

WHEN:

[11:03 AM EDT] - CBS News - The gas tax suspension requires congressional approval.

WHY:

[11:03 AM EDT] - Alternet - Trump argued that higher gas prices are a "small price to pay" for preventing Iran from acquiring a nuclear weapon.

[11:03 AM EDT] - CBS News - Trump criticized Iran's response to the U.S. peace proposal, stating it made concessions on its nuclear program, but "not enough," calling it a "very stupid proposal."

[11:03 AM EDT] - CBS News - The proposed suspension is in response to rising gas prices due to the war in Iran.

HOW:

[11:03 AM EDT] - CBS News - Suspending the excise taxes requires an act of Congress.

[11:03 AM EDT] - CBS News - Trump indicated that the U.S. could have opened the Strait of Hormuz under Project Freedom and suggested it could be "much more severe."

[11:03 AM EDT] - CBS News - Trump indicated that the U.S. could have opened the Strait of Hormuz under Project Freedom and suggested it could resume and be "much more severe."

[11:03 AM EDT] - CBS News - Suspending the federal gas tax requires an act of Congress.

(UPDATED May 12, 2026 15:50 UTC)

Trump announced plans to reduce the federal gas tax "until it's appropriate," stating that suspending it would require an act of Congress. He emphasized that the gas tax would be temporarily lifted and would phase back in as gas prices decrease, while also noting that prices are likely to stay high due to Iran's blockade of the Strait of Hormuz. Trump argued that the higher gas prices are a "small price to pay" for preventing Iran from acquiring a nuclear weapon.

(UPDATED May 12, 2026 09:48 UTC)

Trump stated that suspending the federal gas tax would have a "modest impact" on fuel prices, which would also require congressional approval. He noted that gas prices have soared over 50% since the start of the Iran war, recently hitting a high of over $4.52, according to AAA. Trump emphasized that higher gas prices are a "small price to pay" for preventing Iran from acquiring a nuclear weapon.

(UPDATED May 12, 2026 04:11 UTC)

Trump announced his intention to suspend the federal gas tax "for a period of time," indicating he would phase it back in when gas prices decrease. He also criticized Iran's response to the U.S. peace proposal, stating that while concessions were made on its nuclear program, they were "not enough," and labeled the proposal as "very stupid." Additionally, Trump mentioned that the U.S. could have opened the Strait of Hormuz under Project Freedom and suggested that this could resume in a "much more severe" manner.

(UPDATED May 12, 2026 01:29 UTC)

Trump has proposed a temporary suspension of the federal gas tax as prices have surged over 50% since the onset of the war in Iran, reaching a peak of over $4.52 per gallon. He believes that these higher gas prices are a "small price to pay" for preventing Iran from obtaining a nuclear weapon. However, implementing this suspension would require an act of Congress.

(UPDATED May 11, 2026 23:17 UTC)

Trump has stated that suspending the federal gas tax would have a "modest impact" on fuel prices, while also noting that Congress has shown "little interest" in taking such action to help reduce costs. He argued that higher gas prices are a "small price to pay" for preventing Iran from acquiring a nuclear weapon. Additionally, Trump indicated that the U.S. could have opened the Strait of Hormuz under Project Freedom, suggesting that the situation could be "much more severe."

(UPDATED May 11, 2026 19:29 UTC)

President Trump announced plans to reduce the federal gas tax "until it's appropriate," stating that the tax would be lifted temporarily and phased back in as gas prices decrease. He also criticized Iran's response to the U.S. peace proposal, calling it a "very stupid proposal" for not making sufficient concessions on its nuclear program. Additionally, Trump described a U.S. military operation aimed at guiding ships through the Strait of Hormuz, referring to it as "Project Freedom," and suggested that this operation could resume with a "much more severe" approach.

(UPDATED May 11, 2026 17:41 UTC)

President Trump announced plans to suspend the federal gas tax, which is currently set at 18.4 cents per gallon for gas and 24.4 cents per gallon for diesel, in response to rising gas prices linked to the ongoing war in Iran. The price of gas has surged over 50% since the conflict began on February 28, reaching a peak of more than $4.52 per gallon. This proposed suspension will require congressional approval before it can take effect.