Trucking, construction trade groups voice opposition to Trump's proposed gas tax holiday

Trucking and construction trade groups are raising concerns about President Donald Trump's proposal to temporarily suspend the federal gasoline tax to help drivers who have been stung by prices at the pump during the war in Iran. 

These industries rely on transportation infrastructure, which is funded by the federal taxes on gasoline and diesel. 

Brian Turmail, national spokesman for the Associated General Contractors of America, a construction industry trade group, told CNBC that the tax holiday would undermine funding for highway and transit repairs, and isn't the best means to help drivers. 

The American Trucking Association and National Tank Truck Carriers said in a statement that since the tax is collected at the wholesale level, as opposed to the retail point, temporary suspensions have historically had little impact. The holiday would, according to the two truckers' trade groups, save drivers about $0.30 per week. 

"Without replacement funds, fuel tax revenues supporting critical investments in highway safety and infrastructure projects would evaporate, hindering the safe and efficient movement of people and goods across the country," the groups said. 

The federal government's excise tax is about 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel, which generates approximately $500 million per week for construction and repair of roadways, as well as other transit projects. 

Trump said on Monday that he thought the temporary suspension would be a "great idea." Suspending the tax would require an act of Congress, and Sen. Josh Hawley, R-Mo., introduced legislation on Monday that would suspend the fuel taxes for 90 days.