CBS News hosted an hour-long town hall with Vice President JD Vance in Michigan, a key swing state ahead of the midterms. Audience members pressed him on everyday costs, including gas prices that remain elevated even after the change in administration. Vance told the seated crowd that the primary driver of current prices traces back to decisions under the prior president.
He explained that about 20 percent of American refining capacity went offline during Joe Biden’s term. Vance added that restoring that capacity is underway but takes time, which left the country more exposed to price shocks tied to Middle Eastern energy markets. He also noted that the administration is dealing with an Iranian regime shooting at commercial shipping.
Host Tony Dokoupil cut in during the exchange and said, “It’s almost been 2 years. At a certain point, it becomes your economy, not Joe Biden’s economy.” Dokoupil further recalled that Vance had described the price rises as a temporary blip during an earlier appearance in Michigan and asked how long that temporary period would last. Vance replied that he does not think gas prices will come down once the present conflict ends.
Refining capacity, shipping threats, and voter questions shape the discussion
High gas prices are one of the biggest obstacles the GOP faces heading into the upcoming midterm elections. Prices have risen steadily since the Iran war began, and estimates show that Americans have paid billions of dollars more for gas since then.
Vance said he recognizes that gas prices are too high right now and tied the situation to Iran’s actions against oil tankers. He stated, “We’ve never had a situation like this, where you have effectively the largest state sponsor of terrorism that’s trying to completely choke off world energy supply.”
He argued that allowing Iranians to control shipping out of the Strait of Hormuz would mean Americans pay substantially more for gasoline. He noted that oil continues to leave the region because U.S. military efforts have kept ships moving through the strait.
On the competitive Michigan Senate race, Vance said Democratic candidate Abdul El-Sayed has criticized the Iran conflict without offering a solution, while Republican Mike Rogers has called for the war to end. Vance said of Rogers, “He’s been remarkably independent about this.”
Dokoupil asked why the United States has not finished the Iran conflict decisively, given that it has lasted longer than President Trump first expected.
Vance responded that “in some ways we have won decisively,” though “the enemy gets a vote here.” He said he took part in negotiations with Iran over the summer and that the administration wants a “final firm commitment from the Iranians that they’re not going to rebuild their nuclear program.”
A Detroit barber named Keishon told Vance he had voted for President Trump in both 2020 and 2024 largely because of the lower gas prices at the time. Keishon said he now intends to back El-Sayed rather than Rogers.
Another attendee, Sandy Johnson, who runs a family entertainment center, said her business is “barely making ends meet” and asked when ordinary Americans will have more money to spend at places like hers.
Vance answered that the country’s problems stem from a bipartisan, multi-generational failure to invest in American workers and manufacturing and from sending good jobs overseas. He said that if the good jobs stay overseas, Michigan residents cannot spend at her family business. He pointed to promised foreign investment and expansion plans from General Motors, Ford, and Stellantis as signs of change.
Vance stated, “We are turning the tide on this,” referring to the drop in U.S. manufacturing, and said there are indications of progress. He told Johnson that the country was not broken in a single presidential term, so fixing it will take more than 18 months. Unemployment has stayed low since President Trump returned to office, while inflation has remained above the Federal Reserve’s 2 percent target and manufacturing employment has stayed roughly flat.
When Dokoupil raised President Trump’s “A+” description of the economy, Vance said the president was pointing to new investments, “but he would be the first person to tell you that you gotta build the factories first before you can employ the workers working in those factories.” Vance added that the administration is “turning the ship around.”
Published: Oct 18, 2026 08:45 am