LAS VEGAS — President Donald Trump heads to Las Vegas on Thursday to promote the tax cuts he signed into law last year. He will hold a roundtable with police officers, a barber, and a casino pit supervisor who received new tax breaks on overtime and tips under the "One Big Beautiful Bill Act."

Trump said he first conceived his "no tax on tips" policy in Las Vegas. Workers who earn tips and overtime are seeing larger returns on their tax refunds this tax season. The Treasury Department said the average tax refund this year has been over $3,400, an increase of about $340 from a year ago.

The tax savings have coincided with rising fuel costs tied to the war with Iran. Gasoline is averaging $5 per gallon in Las Vegas, a 28% increase from a year ago, according to AAA. A Bank of America Institute analysis released Tuesday concluded that the average increase in tax refunds could cover the average increase in gasoline spending for at least five months. Kathy Bostjancic, chief economist at Nationwide, said in an analysis that the steep rise in gasoline prices looks likely to completely offset the increased tax refund windfall for households. Bostjancic added that the additional tax funds would likely prevent a sharper drop in consumer spending.

Nicholas Delaney, an airline attendant who lives in the Las Vegas suburb of Henderson, Nevada, said he did not vote for Trump in 2024. "I gotta spend over $100 for a full tank of gas, 13 gallons? Crazy." Delaney said.

A White House spokesman said the administration is focused on tax cuts, deregulation, and boosting U.S. energy production to drive down prices. The spokesman described high gas prices as a temporary disruption from the war in Iran.

In a Fox News Channel interview on Sunday, Trump said gas prices "could be the same or maybe a little bit higher" by the November midterm elections. In a Fox News Channel interview on Wednesday, he said, "I think they'll be much lower" before the election, assuming the war will be long over. "When that's settled, gas prices are going to go down tremendously," he added.

He expects the war with Iran to end soon. No deal to resolve the conflict has been reached, with U.S. and Iranian positions remaining far apart.