Trump says he will suspend gas tax
President Trump made the comments in a phone interview with CBS News chief White House correspondent Nancy Cordes.
Updated on: May 11, 2026 / 11:03 AM EDT / CBS News
Washington — President Trump told CBS News on Monday that he intends to suspend the federal gas tax 'for a period of time" and phase it back in "when gas goes down."
"And yep, we're going to take off the gas tax for a period of time, and when gas goes down, we'll let it phase back in," the president said. "But no, we're gonna, we'll, we'll be doing something on that. Yes."
Gas prices have soared over 50% since the start of the Iran war on Feb. 28, hitting a high of over $4.52 on Sunday, according to AAA . Analysts say the prices are likely to remain high with Iran blocking access to the Strait of Hormuz.
The president said of Iran's latest response to the U.S. peace proposal that it made concessions on its nuclear program, but "not enough," and it's still a "very stupid proposal."