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Pump prices are ⬆️ but suspending federal gas tax likely won’t help much. Prof. Gilbert Metcalf says: • Gas/diesel taxes are small vs. 40%+ fuel price hikes • Farmers are already exempt • It could boost demand, raising prices • The tax brings in ~$3.5B/month, needed to quell deficit
Why suspending the gas tax won’t help consumers
President Donald Trump has proposed pausing the country’s 18.4-cent gas tax.
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MIT Climate Policy Center