GOP senators are throwing cold water on President Donald Trump's latest plan to reduce gas prices, according to a new report.
Trump has proposed suspending the federal gas tax to help lower prices at the pump for American consumers. The plan is strikingly similar to the one former President Joe Biden proposed in 2022, which GOP senators fiercely rejected, and Congress needs to approve it before the tax is officially suspended.
But a pair of GOP senators recently told Joe Perticone of The Bulwark that they can't support Trump's plan.
“We don’t have a demand problem, we [have] a supply problem, and I think the president can take a lap on that one by saying what he has done to increase discovery, and getting as much energy out of the ground as he can,” Sen. Chuck Grassley (R-IA) told Perticone.
Energy prices have risen sharply across the U.S. since Trump's war with Iran began in late February. According to AAA data, the national average for a gallon of regular gasoline is $4.50 — the highest level since 2022 and roughly $1.40 higher than a year ago.
While suspending the gas tax could create temporary relief for consumers, Sen. James Lankford (R-OK) expressed concerns about how the move would impact the federal debt, which recently surpassed 100% of U.S. GDP.
“I would not [support a gas-tax holiday] right now,” Lankford told The Bulwark. “We obviously have to watch the debt and deficit as well as a country. Those are also things we got to be able to take care of.”