politics
Trump says he aims to suspend gas tax "for a period of time"
Updated on: May 11, 2026 / 11:42 AM EDT / CBS News
TL;DR
- President Trump plans to suspend the federal gas tax "for a period of time" to help lower gas prices.
- Suspending the tax requires congressional approval and would cost the government about half a billion dollars weekly.
- Trump rejected a bailout for U.S. air carriers, stating they are not doing badly, despite rising jet fuel costs impacting airlines like Spirit.
- He disagreed with Israeli Prime Minister Benjamin Netanyahu's claim about foresight concerning Iran's actions in the Strait of Hormuz.
- Trump described Iran's latest peace proposal as "totally unacceptable" and "stupid."
- He indicated that Iran made some concessions regarding their nuclear program but "not nearly enough."