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Trump Proposes Gas Tax Holiday, Mulls Beef Tariff Cut

5/12/2026

38 7 Full Breakdown

Summary

Story summary

President Donald Trump proposed a federal gas tax holiday and is weighing a reduction of beef import tariffs.
Sam Stein and Katy Tur examined the administration’s economic messaging on MS Now.
Kevin Hassett cited rising credit-card spending as evidence of a strong economy.
The discussion highlighted rising consumer prices, voter concerns about the cost of living, and Bulwark’s live events in San Diego on May 20 and Los Angeles on May 21.

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Story summary

President Donald Trump proposed a federal gas tax holiday and is weighing a reduction of beef import tariffs.
Sam Stein and Katy Tur examined the administration’s economic messaging on MS Now.
Kevin Hassett cited rising credit-card spending as evidence of a strong economy.
The discussion highlighted rising consumer prices, voter concerns about the cost of living, and Bulwark’s live events in San Diego on May 20 and Los Angeles on May 21.