President Donald Trump said Monday that he supports temporarily suspending the federal gas tax as Americans face soaring fuel prices ahead of the busy Memorial Day travel season.
“I think it’s a great idea,” Trump said during a phone interview with CBS News. “Yup, 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.”
Gas prices have surged more than 50% since the start of the Iran war on Feb. 28, with the national average climbing above $4.52 per gallon on Sunday, according to AAA. Analysts warn prices could remain elevated as tensions in the Middle East continue and Iran blocks access to the Strait of Hormuz, a key global oil shipping route.
The federal gas tax currently adds 18.4 cents per gallon to gasoline prices and 24.4 cents per gallon to diesel fuel. However, suspending the tax would require approval from Congress and could cost the federal government roughly $500 million per week in lost revenue.
Several Democrat lawmakers have already introduced legislation aimed at either lowering or temporarily suspending the federal gas tax to provide relief to consumers struggling with higher prices at the pump.
Revenue generated by the federal gas tax funds the Highway Trust Fund, which supports road construction and repairs, along with other transportation and transit projects across the country.
The push for relief comes as AAA projects a record-breaking Memorial Day travel weekend. According to the organization, roughly 45 million Americans are expected to travel at least 50 miles from home between May 21 and May 25, slightly surpassing last year’s total.
Of those travelers, an estimated 39.1 million are expected to drive to their destinations despite fuel prices reaching their highest levels since 2022. AAA also warned drivers to expect the heaviest traffic congestion on May 21 and 22 between 3 p.m. and 6 p.m., as well as during the afternoon of May 25. Sunday is expected to be the lightest travel day of the holiday weekend.
Meanwhile, about 3.66 million Americans are expected to fly during the holiday period, accounting for roughly 8% of all travelers. AAA noted that round-trip domestic airfare is currently about 6% cheaper than it was last year.
