President Donald Trump said Monday that he wants to suspend the federal gas tax “for a period of time” to provide immediate relief to American drivers hammered by skyrocketing fuel prices.

“I think it’s a great idea,” Trump told CBS News in a phone interview. “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.”

The national average price of gasoline hit $4.52 per gallon on Sunday — a more than 50% increase since the start of the Iran conflict on February 28. Analysts warn prices could remain elevated for months as Iran continues blocking the Strait of Hormuz.

Following Trump’s comments, Republican Sen. Josh Hawley announced he would introduce legislation to suspend the federal gas tax. GOP Rep. Anna Paulina Luna of Florida said she plans to introduce a similar bill in the House this week. Several Democrats had already proposed pausing or reducing the tax.

The federal excise tax currently stands at 18.4 cents per gallon on gasoline and 24.4 cents on diesel. Suspending it would cost the government roughly $500 million per week in lost revenue that normally funds the Highway Trust Fund for road construction and transit projects.

This marks a significant shift and shows the White House is feeling real pressure from voters over energy costs. Just weeks ago, Energy Secretary Chris Wright said the administration was “open to all ideas” on lowering gas prices. Now Trump himself is publicly backing a temporary suspension — a move that would deliver direct relief at the pump but further strain federal infrastructure funding.

Trump also pushed back on the idea of a bailout for airlines struggling with doubled jet fuel costs, saying carriers are “doing not badly.” This comes after budget carrier Spirit Airlines shut down earlier this month due to surging fuel prices, with broader ticket price increases expected this summer.

On the diplomatic front, Trump dismissed Iran’s latest ceasefire proposal as “a stupid proposal… badly written, badly delivered,” while making it clear he is keeping military options on the table — including potentially restarting “Operation Freedom” to secure the Strait of Hormuz.

With midterm elections approaching and American families feeling the pain at the pump, Trump’s willingness to suspend the gas tax could become one of the most politically significant moves of his second term.

The coming weeks will show whether Congress can move quickly on the proposal — and whether it will provide meaningful relief before prices climb even higher.