Join 250,000+
professionals today
Add Insights to your inbox - get the latest
professional news for free.
Is Trump’s Gas Tax Holiday a Fix or a Fiscal Detour?
Join our 250K+ subscribers
Join our 250K+ subscribers
Subscribe12 MAY 2026 / ACCOUNTING & TAXES
President Donald Trump has proposed temporarily suspending the federal gasoline tax in response to rising gas prices amid the Iran conflict and pending midterm elections. However, while the measure could provide some relief, the average driver would save only $2 to $4 per fill-up, and the suspension would increase financial pressures on the Highway Trust Fund, that supports vital infrastructure maintenance, by potentially costing it up to $21 billion over six months.
The federal gas tax has quietly sat in the background of American life since 1993, like that old office printer nobody notices until it jams five minutes before a filing deadline. Now, with gas prices climbing past $4.50 a gallon nationwide after the Iran...
Until next time…
Don’t forget to share this story on LinkedIn, X and Facebook
Subscribe now for $199 and get unlimited access to MYCPE ONE, from CPE credits to insights Magazine
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
You’ve reached the 3 free-content piece limit. Unlock unlimited access to all News & CPE resources.
Subscribe Today.
Already have an account?
Sign In
-1790696521.webp)
-1790682118.webp)
