U.S. President Donald Trump has acknowledged the financial strain many Americans are experiencing due to the rising gas prices. However, his proposal to temporarily halt the federal fuel tax may not have the desired impact on both him and drivers. Trump announced his desire for a pause on the federal gas tax, a move that necessitates Congressional approval.
The current U.S. federal tax on a gallon of gasoline stands at 18.4 cents, a small fraction of the current national average price of $4.52 US per gallon. This national average has surged by 50% since the onset of the U.S.-Israel conflict with Iran in late February, resulting in a $1.54 US per gallon increase in just 10 weeks.
Even Trump acknowledges that reducing the tax will have a minimal effect on prices. He stated on Monday that while it is a small percentage, it still represents a financial impact. As gas prices have climbed, Trump’s approval ratings have declined, adding pressure on the White House ahead of the upcoming midterm elections.
Recent polling conducted by Ipsos Public Affairs for Reuters revealed that over three-quarters of respondents hold Trump responsible for the spike in gas prices. Polling data indicates that the rising prices are influencing public perception of the president and the administration’s handling of the situation.
Alec Tyson, the lead pollster for Ipsos in Washington, emphasized that while suspending the gas tax is a popular notion, it may not significantly improve Trump’s standing on economic issues. The American public has broader concerns regarding the economy and cost of living, beyond just gas prices.
The Ipsos poll, which surveyed a nationally representative sample of U.S. adults, including registered voters, highlighted the impact of gas prices on individuals like Oz Mangrum, a hotel manager in Washington, D.C. Mangrum blamed the White House for the high gas prices but expressed hope that the situation would be resolved soon.
Following Trump’s call to suspend the gas tax, two Republican lawmakers announced plans to introduce bills to enact this measure. The duration of the proposed tax pause remains uncertain, with Trump suggesting it should last “until it’s appropriate.” However, such a move would cost the U.S. Treasury approximately $3.5 billion per month, according to the Committee for a Responsible Federal Budget.
The U.S. federal gas tax has remained unchanged since 1993, standing at 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel. In contrast, Canada recently suspended its federal excise tax on gasoline and diesel, equivalent to 27.6 cents US per gallon, as a measure to alleviate the financial burden on its citizens.
