Trump's ‘Gas Tax Holiday’ Will Solve NOTHING

Added: 2026-05-28

[00:00:00]Gas prices are going to continue to climb this summer because Donald Trump was unable to secure any type of deal with Iran. On Saturday, he told us we are just seconds away from having the deal. Sunday, he was like, "I don't know what you're talking about. The deal's not done yet." And then on Monday, the ceasefire completely got thrown away and Donald Trump authorized more US attacks against Iran. With all of that happening, of course, it means that the straight of Hormuz is not going to open.

[00:00:30]It is going to remain closed and gas prices are going to skyrocket far higher than what we see already.

[00:00:40]Buckle up because the worst is yet to come. And that, of course, is coming from oil industry insiders and analysts.

[00:00:49]The people who do this for a living are telling us, "You guys have no idea how bad it's about to be."

[00:00:57]But don't worry, Trump has a plan, right? We have been told by uh Energy Secretary Chris Wright. We have been told by Trump himself that they are considering suspending the federal gas tax. So, you know, don't worry about gas prices because we're going to suspend that gas tax and everything will be cool. But it turns out that not only would suspending the federal gas tax do nothing to help Americans, like literally you wouldn't even notice it because it's so small, but it would actually screw us over worse in the long run. Here's why.

[00:01:39]Federal gas tax is roughly 18 cents per gallon. 18 cents. And we'll be generous.

[00:01:47]We'll round that up to 20 cents per gallon.

[00:01:52]Considering that the average cost of gasoline since Donald Trump attacked Iran has already gone up by a buck 30 a gallon, you're still paying a buck 10 more per gallon than you were before he attacked Iran. So, you're still getting screwed. But let's also assume for a second that you fill up once a week and you have a 20 gallon tank on your car.

[00:02:16]Okay, 20 gallons and you're saving 20 cents a gallon. You can do the quick math on that. Do you know how much money you're saving every week?

[00:02:28]$4.

[00:02:30]Four bucks. But you're paying an extra 20 already.

[00:02:37]$4 a week if you fill up once a week.

[00:02:39]But if you have a 40 gallon tank or you fill up twice a week, well, you know, do the quick math on that. times two, you're saving eight bucks a week. Oh boy, that's going to help you. $8 a week at best. And remember, we rounded those numbers up, so it's actually a little under that.

[00:02:58]That's not going to do anything to help anybody. Okay? That's not going to reduce the cost of shipping items. It's not going to bring fuel costs down for airlines. Eight bucks means nothing except when you add up all of those $8 or $4 that you're no longer spending every week.

[00:03:21]When hundreds of millions of Americans are no longer paying that extra $4 dollar a week, that actually adds up pretty quickly collectively.

[00:03:32]And it will cost the US Highway Trust Fund an estimated $2.5 billion per month.

[00:03:43]For those of you not familiar with it, the US Highway Trust Fund is the money used to repair and maintain the federal interstate system along with all the bridges connected to it as well.

[00:03:57]So that part of America's infrastructure will be starved of$2.5 billion dollar a month. And it's already failing. So it's not like, well, our roads and bridges are in tip-top shape. We can spare the money. We can't. They're falling apart and crumbling to dust.

[00:04:20]So, we lose that. Your roads and bridges and other conditions get so much worse. You save $4 a month. And Donald Trump goes and pats himself on the back saying, "I just saved everybody from gas prices."

[00:04:36]Republicans want you to think that there is nothing on planet Earth more evil than a tax.

[00:04:44]Taxes are bad. You should hate taxes. We hate taxes. We should cut taxes. We should suspend taxes and it'll save you money.

[00:04:55]Taxes might be evil, but they are, as they say, a necessary evil.

[00:05:02]Nobody enjoys paying taxes.

[00:05:05]But you know what else? Nobody enjoys driving on an interstate filled with potholes that could easily cause your car to spin out of control and kill you.

[00:05:16]We don't like that either. In fact, we like that less than we like paying taxes.

[00:05:23]So that's the tradeoff. more dangerous roads, worse driving conditions that'll cause more wear and tear on your car.

[00:05:32]That'll cost you more in the long run.

[00:05:34]So, that four bucks is going to be wiped out. But hey, we're saving 18 cents a gallon on gas, right? Thanks for watching. And if you are not already subscribed to the channel, please do so.

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