Headline: New York Times, 4/16/2026
Appearing at an event hosted by CNBC, Scott Bessent, the Treasury secretary, acknowledged on Wednesday that the spike in gas prices could cut into Americans’ tax refunds, which he described as more generous under Mr. Trump. Federal data suggest those refunds are not as large as the White House once predicted.
Still, Mr. Bessent stressed at a White House briefing that day that he believed gas prices could fall to around $3 per gallon by the summer, adding that the timetable for relief would hinge on the negotiations.
“I’m optimistic that sometime between June 20 and Sept. 20 that we can have $3 gas again,” he said.
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