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Spiking gas prices tied to Iran war are set to eat up tax refunds touted by Trump (apnews.com)

submitted 1 day ago by FlashMobOfOne@lemmy.world to c/usa@lemmy.ml

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WASHINGTON (AP) — The U.S. economy was supposed to start the year with a bang, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving most Americans with little extra to spend.

“Next spring is projected to be the largest tax refund season of all time,” Trump said in a prime-time speech in December that was intended to address voters’ concerns about the economy and stubbornly high prices.

But that was before the Iran war, which began Feb. 28. Oil and gas prices have soared since then, with the nationwide average price of gas reaching $3.94 Sunday, up more than a dollar from just a month earlier.

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[–] HiddenLayer555@lemmy.ml 2 points 19 hours ago* (last edited 19 hours ago) (1 children)

Can't wait for the same people who put "I did that" stickers with Biden at gas pumps to do the same with Trump. They will, right? Because they apply their outrage of resource prices consistently, right? Riiiiiight???

[–] queermunist@lemmy.ml 1 points 19 hours ago

Careful, at the rate we're going they'd declare those stickers to be terrorism.