economy
Wright: Trump Administration Considering Fuel Tax Cut
U.S. Energy Secretary Kris Wright stated that President Donald Trump's administration is ready to consider all options to lower fuel prices, including a temporary suspension of federal gasoline taxes, as fuel prices in the U.S. continue to rise due to the conflict with Iran, which has caused prices to increase by 50% compared to before the conflict.
TL;DR
- U.S. Energy Secretary Kris Wright stated the Trump administration is open to lowering fuel prices.
- Consideration is being given to temporarily suspending federal gasoline taxes.
- Fuel prices in the U.S. have increased by over 50% due to the conflict with Iran.
- The average price of gasoline in the U.S. reached $4.52 per gallon.
- Wright stated the administration is open to 'all ideas' for lowering prices.