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PANDORA’S BOX
EVERYTHING GOT OUT. THE HOPE IS AT THE BOTTOM.
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THE ONE-WAY DOOR
The red diesel is legal now. The tax on it is only postponed.
Trump’s order lets off-road fuel run on highways through December 31. The 24.4 cents a gallon is deferred, not erased.
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He signed it at a rally in Nebraska. Late Monday in Grand Island, President Trump signed an executive order letting red-dyed diesel run on public roads. Until that moment, doing so was illegal.
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Dyed diesel is the same fuel as highway diesel. The red dye marks it as off-road, which is why it skips the 24.4 cent federal excise tax. Using it in a truck normally counts as tax evasion.
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PAID PARTNERSHIP |
We believe Executive Order 14241 has unleashed a potentially huge change to America’s money.
Republican or Democrat, whether you support or oppose Trump’s New Dollar, you could soon be using it. If you have savings in the bank or a stock portfolio, we believe you need to understand what’s unfolding, and take specific action to prepare.
In Porter Stansberry’s new documentary, you’ll discover:
▪ How the last time America reset its money, it minted 1,300 new millionaires a day, and why we believe what’s coming could be bigger still.
▪ The 5 assets to own before America’s new money rolls out, including the one Porter would buy today for immediate exposure.
▪ The critical resources Trump is moving heaven and earth to control, because America’s new money depends on it.
▪ Why the U.S. government is suddenly buying ownership stakes in tiny American mining companies, a move not seen since the depths of World War II.
▪ Why a single gathering of world leaders this December, at Trump’s own Miami resort, could be the moment America’s new dollar is revealed to the world as a done deal.
Many thanks,
Jared Kelly
CEO, Porter & Co. |
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Here is what it saves. The White House puts the federal break at about $60 on a 250-gallon fill. Where a state matches it, the saving tops $100. Diesel averaged $6.199 a gallon last week.
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24.4 cents a gallon
DEFERRED THROUGH DECEMBER 31, NOT CANCELLED
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The fuel burns this month. The bill waits for a decision nobody has made yet, and only Congress can erase it. |
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That is the part the rally skipped. The order defers the tax between October 5 and December 31, without interest or penalties. It then tells Treasury Secretary Scott Bessent to look for ways, including legislation, to cancel what was deferred.
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Look for, not cancel. Unless that search succeeds, the deferred tax is still owed when the window shuts on December 31.
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There is a second limit. A president cannot touch state fuel taxes, which often run higher than the federal rate. Ten states had already eased their own dyed-diesel rules by October 2, and the rest have not.
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For an interstate trucker that matters twice. Red diesel bought without state tax earns no credit. The miles still count under the agreement that settles fuel taxes between states.
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You have heard about pre-election fuel relief before. This one is real money at the pump today. That is exactly why the fine print is worth reading before you fill.
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The dye washes out of the story. The gallons do not wash off the ledger.
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EVERY LEAD PASSES BEFORE IT RUNS
The One-Way-Door Test
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Can it be undone?
The order expires on its own in December. The fuel burned under it cannot be unburned, and the deferred tax rides with those gallons.
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Who is already repositioning?
Treasury is writing the mechanics, the IRS is holding off on penalties, and ten states moved early. Farm groups are already telling members to keep receipts.
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What does being late cost?
Records are cheap to keep now and impossible to rebuild in January. The cost of being late is not the fuel, it is the paperwork.
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THE MOVE · WHILE THERE IS STILL TIME
If you buy diesel for a truck, a tractor or a farm, start a folder today. Keep every dyed-diesel receipt from this window with the date, the gallons and the state. Check your own state’s rule before you fill, because this order cannot change it.
If Congress forgives the deferred tax, that folder cost you ten minutes. If it does not, the folder is the only thing standing between you and a bill you cannot reconstruct. |
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ALSO GOT LOOSE TODAY
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The S&P 500 closed above 7,800 for the first time on Tuesday. The Russell 2000, which tracks smaller companies, fell on the same day. |
MONEY |
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The Federal Reserve publishes the minutes of its September meeting today. |
MONEY |
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The dollar reached an 18-month high this week, which makes imported goods cheaper and American exports dearer. |
WORLD |
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WHAT’S LEFT AT THE BOTTOM
Cheaper fuel is sitting at the pump right now, and the catch is written down where you can read it. A folder and one phone call to your state keep the saving yours. WE WATCH THE BOX.
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