According to independent budget analysts, on Tuesday, May 12, Trump proposed suspending the federal gasoline tax of 18.4 cents per gallon “until the time is right.” The Committee for a Responsible Federal Budget estimates the suspension will cost the federal government approximately $3.5 billion monthly in gasoline and diesel tax revenue, though other tax increases from economic stimulus effects could offset about $1 billion. A separate analysis by the nonpartisan Policy Center shows the government will lose an average of approximately $2.5 billion in gasoline tax revenue and $900 million in diesel tax revenue monthly.
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