President Trump on Monday announced plans to slash the federal gas tax.
The president held an Oval Office event to announce the Labor Department will issue new regulation to expand access to fertility benefits.
“The U.S. departments of Labor, Health and Human Services, and Treasury announced a proposed rule that would create a new category of limited excepted benefits to further expand the ability of employers to offer meaningful fertility benefits to their employees,” the Labor Department announced.
“The proposed rule is a central component of the Trump administration’s efforts to expand American families’ access to fertility benefits. It builds upon President Trump’s Executive Order “Expanding Access to In Vitro Fertilization,” which announced that it is the policy of the administration to ensure reliable and affordable access to in vitro fertilization to support American families,” the department said.
“Under President Trump’s leadership, we are delivering on our promises to the American worker and their families,” said Acting Secretary of Labor Keith Sonderling.
“President Trump is committed to expanding access to fertility benefits so that more American families can have children, building on his longstanding efforts to support family formation and stability. The Department of Labor is proud to have led this important initiative on behalf of the President and his administration,” Soderling added.
“The decline in birth rates is a serious challenge for our nation,” said HHS Secretary Robert F. Kennedy Jr.
“Under President Trump’s leadership, this rule expands access to fertility care and gives more Americans a real path to starting and growing their families. I appreciate my colleagues at the Departments of Labor and Treasury as we work together to deliver on this critical issue,” RFK added.
President Trump took questions from reporters during the event.
A CBS reporter asked President Trump about soaring gas prices.
Gas prices have increased more than $1.50 per gallon since he beginning of the Iran conflict in late February.
“I think it’s a great idea,” President Trump told CBS reporter Nancy Cordes of his plan to reduce the federal gas tax. “Yup, 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.”
“I’m going to reduce until, let me tell you, as soon as this is over with Iran, as soon as it’s over, you’re going to see gasoline and oil drop like a rock,” Trump said.
WATCH:
How does this impact gas prices?
CBS News reported that suspending the federal gas tax would likely reduce gas by 18.4 cents per gallon.
“Suspending the gas tax would likely provide only limited relief, as recent price increases have far outpaced the federal levy. The federal government charges 18.4 cents per gallon on gas and 24.4 cents per gallon on diesel, with the revenue funding the Highway Trust Fund,” CBS News reported.
“Suspending the tax would reduce the current price of regular gas to $4.34 per gallon and diesel to $5.39 per gallon,” the outlet reported.
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