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Trump Likens Cheap Gasoline Brought on By Oil Crash to a Tax Cut

State Prepares To Deploy National Guard To Coronvirus-Hit Suburb
Photographer: Yuki Iwamura/Bloomberg

For at least the second time this week, President Donald Trump described the plunge in oil prices as being great for Americans, saying the ensuing decline in pump prices are “like a tax cut.”

“Frankly that’s like a big tax cut, not a little tax cut for the consumer,” Trump told reporters Thursday at the White House. “So there’s something about that that I like.”