Trucking Groups Oppose Trump Gas Tax Suspension Plan

Major trucking associations oppose President Donald Trump’s plan to suspend the federal gasoline tax, warning it would provide minimal relief while risking highway funding. The American Trucking Associations, Truckload Carriers Association, and National Tank Truck Carriers said most savings would not reach consumers because the tax is collected at the wholesale level.

They estimate drivers would save about 30 cents per week, compared with the 18.4-cent per-gallon federal tax, and say eliminating it would weaken the Highway Trust Fund that pays for roads and bridges.

Trump said he is considering a temporary suspension of the tax as oil prices rise amid conflict with Iran, acknowledging savings would be modest and potentially short-lived.

Gasoline prices have surged to $4.52 a gallon as supply disruptions affect global markets, while analysts say a tax holiday would likely cut prices only 10 to 16 cents.

Lawmakers remain divided, with supporters calling for temporary relief and critics warning past gas tax holidays produced limited benefits and funding gaps.

Source: https://www.ttnews.com