Referred to the House Committee on Ways and Means.
Taxation
Why This Matters
This bill creates a temporary gas tax holiday by setting the federal gasoline tax to zero from the day it is signed until January 1, 2027, and refills affected federal funds from the general Treasury.
If you drive a gas-powered car, this would knock about 18 cents off every gallon of gas you buy through the end of 2026.
Who this affects
Gasoline buyers · Gas stations and fuel producers · Federal road and environmental funds
What changes is this bill making?
1Suspends the federal gasoline excise tax (currently 18.4 cents per gallon) from the day the bill is signed through the end of 2026.
2Also waives the Leaking Underground Storage Tank Trust Fund fee on gasoline during that same period.
3Backfills the Highway Trust Fund and the LUST Fund out of the general Treasury, so road funding is not cut.
4Declares it the policy of Congress that fuel producers and station owners pass the savings on to consumers, not pocket them.
5Gives the Treasury Secretary authority to use enforcement tools to ensure consumers actually see the savings at the pump.
