Trump signals federal gasoline tax suspension, pledges phase-back once prices fall

President Donald Trump told CBS in a phone interview that he intends to suspend the federal gasoline tax, describing the move as "a great idea." "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," he said.

The federal gasoline tax currently sits at 18.4 cents per gallon — a modest but politically visible line item that feeds the Highway Trust Fund. A suspension would offer immediate relief at the pump for consumers already navigating elevated prices, though it would also reduce dedicated infrastructure revenue.

The phase-back mechanism Trump described is notable: it ties reinstatement to pump prices rather than a fixed calendar date, leaving the duration open-ended and the fiscal impact harder to score. Markets will watch for formal legislative or executive action before pricing in any macro effect.