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Oil Prices Offset Tax Cuts

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Oil Prices Offset Tax Cuts

Benzinga - News
Mar 10, 2026
Mar 10, 2026 Updated 1 hr ago
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White House posts 'American justice' video days after Iran school attack

White House posts 'American justice' video days after Iran school attack

Iran: Thousands gather in Tehran for allegiance rally to Mojtaba Khamenei

Iran: Thousands gather in Tehran for allegiance rally to Mojtaba Khamenei

The sea is higher than we thought and millions more are at risk, study finds

The sea is higher than we thought and millions more are at risk, study finds

Footage raises likelihood the US struck an Iranian school where a blast killed at least 165 people

Footage raises likelihood the US struck an Iranian school where a blast killed at least 165 people

Breast cancer survivor knits prostheses in Kenya instead of costly silicone

Breast cancer survivor knits prostheses in Kenya instead of costly silicone

US claims Iran's missile capabilities 'severely degraded'

US claims Iran's missile capabilities 'severely degraded'

US Launches Evacuation Flights as Middle East Conflict Escalates

US Launches Evacuation Flights as Middle East Conflict Escalates

Tom Shatel's Press Box: Nebraska quarterbacks introduced during spring practice

Tom Shatel's Press Box: Nebraska quarterbacks introduced during spring practice

Maxx Crosby Traded To Baltimore For 2 First Round Picks.

Maxx Crosby Traded To Baltimore For 2 First Round Picks.

Iowa writer Ethan Petrik previews Huskers-Hawkeyes basketball

Iowa writer Ethan Petrik previews Huskers-Hawkeyes basketball

Middle East Airspace Reopens: First Flight from Dubai Lands Safely in Shanghai

Middle East Airspace Reopens: First Flight from Dubai Lands Safely in Shanghai

House narrowly rejects Iran war powers resolution

House narrowly rejects Iran war powers resolution

Trump says he's replacing Homeland Security Secretary Noem with GOP Sen. Markwayne Mullin

Trump says he's replacing Homeland Security Secretary Noem with GOP Sen. Markwayne Mullin

Chilling Video: Iran’s Proxy PANICS Netanyahu; POUNDS Missiles on Israel’s Nahariya, Kiryat Shmona

Chilling Video: Iran’s Proxy PANICS Netanyahu; POUNDS Missiles on Israel’s Nahariya, Kiryat Shmona

Jeffries applauds firing of DHS chief Kristi Noem, demands policy changes

Jeffries applauds firing of DHS chief Kristi Noem, demands policy changes

Toronto marks 100-day countdown to the 2026 FIFA World Cup

Toronto marks 100-day countdown to the 2026 FIFA World Cup

Counties with the most gun deaths

Counties with the most gun deaths

North Star's Alex Kroll beats 3rd-quarter buzzer with putback layup

North Star's Alex Kroll beats 3rd-quarter buzzer with putback layup

Rising oil prices following the U.S.-Iran war could offset the economic impact of Trump’s individual tax cuts in the “big beautiful bill,” according to CNBC. Raymond James strategist Travis McCourt wrote that a $20 increase in oil prices could push consumer gasoline spending about $150 billion higher. His estimate is based on the $420 billion Americans spent on gasoline in the fourth quarter of 2025. The Tax Foundation estimates the bill’s individual tax cuts total $129 billion for 2025, with most of the benefit expected to appear through tax refunds this filing season. Oil closed at $67.02 before the war on February 27th and traded around $88.20 Tuesday morning. Wolfe Research said oil would need to stay above $100 for a longer period to erase the tax benefit. Analysts said higher fuel costs could redirect tax refunds toward energy spending.

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Oil Prices Offset Tax Cuts

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