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The suspension will cost the state treasury about $725 million and save individual motorists about $3 a week, according to lawmakers.
Key requests Duffy laid out include strategies to boost revenue for the dwindling Highway Trust Fund that funds the maintenance, repair and building of U.S. highways and mass transit systems.
President Donald J. Trump has announced plans to temporarily suspend the federal gas tax in response to rising prices.
President Donald J. Trump has announced plans to temporarily suspend the federal gas tax as prices soar in response to the ongoing war with Iran. PULSE POINTS WHAT HAPPENED: - DETAIL: Since the beginning of the Iran war in late February, gas prices have surged by over 50 percent. The spike in gas prices primarily stems from Iran’s blockade of the Strait of Hormuz, a critical transit route for energy and fertilizer exports. In response to the rising cost of gas, which currently sits at $4.52 per gallon, the President announced his intention to suspend the federal gas tax on Monday. The federal gas tax, currently 18.4 cents per gallon for gasoline and 24.4 cents for diesel, generates revenue for the Highway Trust Fund, which is used to…Open