Gas Prices Relief Act of 2022

Gas Prices Relief Act of 2022

This bill prohibits federal agencies from finalizing any regulations that would cause (1) a decrease in domestic oil, gas, or biofuels production; (2) an increase in gasoline prices; or (3) any negative effects on domestic energy production, domestic electricity generation, transmission of fuel or electricity, infrastructure development, or transportation fuels. The prohibition may not end until the earlier of January 1, 2023, or until the average gasoline price is $2.60 per gallon or less.

Bill 117 hr 7324, also known as the Gas Prices Relief Act of 2022, is a piece of legislation introduced in the US Congress aimed at addressing the rising gas prices that have been impacting American consumers. The bill seeks to provide relief to individuals and families who are feeling the financial strain of increased gas prices.

One of the key provisions of the Gas Prices Relief Act is the establishment of a temporary gas tax holiday. This would suspend the federal gas tax for a period of time, providing immediate relief to consumers at the pump. The bill also includes measures to prevent price gouging by oil companies and ensure that savings from the gas tax holiday are passed on to consumers.

Additionally, the Gas Prices Relief Act includes provisions to support the development of alternative energy sources and promote energy efficiency. This includes funding for research and development of renewable energy technologies, as well as incentives for consumers to purchase electric vehicles and other fuel-efficient vehicles. Overall, the Gas Prices Relief Act of 2022 aims to provide immediate relief to consumers struggling with high gas prices, while also investing in long-term solutions to reduce our dependence on fossil fuels and promote a more sustainable energy future.