Gas tax holiday as Trump promises? Not so fast, trucking, construction industries say

Opposition to President Donald Trump ' s plan for a gas tax holiday to ease cost-of-living concerns is coming not just from his political foes, but also from the Republican-leaning trucking and construction sectors. Those industries rely heavily on the road and transportation infrastructure projects funded by the federal gas and diesel taxes. "A gas tax holiday is a good way to blow a hole in the collection of revenue for funding highway and transit repairs, but it's a bad way to help drivers who are affected by higher gas prices," said Brian Turmail, national spokesman for the Associated General Contractors of America, a construction industry trade group. Gas prices are up about 50% since the Iran war began on Feb. 28, clocking in at $4.50 a gallon on Tuesday, according to AAA . Diesel, used in trucks and construction equipment, is higher at $5.64 a gallon. Iran has largely blocked the Strait of Hormuz , through which a fifth of the world's oil normally travels. Trump on Monday floated the idea of a gas tax holiday , though any such move would require action from Congress, which has sole authority over federal taxation. Republican lawmakers followed Trump's proposal by introducing legislation that would allow a pause on the 18.4-cent per gallon federal gas tax and the 24.4-cent diesel tax. The federal gas tax primarily funds the Highway Trust Fund , money from which is used on federal highway construction, maintenance, public transit and infrastructure projects. …