Good afternoon. This is the Final NOTUS newsletter for May 11, 2026. You can get it in your inbox every day by signing up here — it’s free!
THE LATEST
Affordability is the word of the day. President Donald Trump said he’s seeking to suspend the federal gas tax, an apparent acknowledgement that fuel prices are rising due to the war with Iran. The president told CBS News he would reintroduce the tax “when gas goes down,” later adding that it would be suspended “’till it’s appropriate.”
- A Congressional Research Service study from 2022 (when then-President Joe Biden suggested suspending the tax for three months) found that it is difficult to ensure the government actually passes those savings onto consumers. The federal tax is collected at the terminal or refinery — not at the time of a retail purchase at the pump.
- Currently, the tax is 18.4 cents per gallon for gas and 24.4 cents for diesel.
The White House is also trying to tackle record-high beef prices by temporarily reducing tariffs for beef-exporting nations, The Wall Street Journal reports.