Gas Prices Relief Act of 2022

12/29/2022, 9:18 PM
Congress
117

Number
S - 3609

Introduced on
2022-02-09

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

2/9/2022

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Gas Prices Relief Act of 2022

This bill provides for a temporary exemption through 2022 from the excise tax on gasoline (other than aviation gasoline) and from the Leaking Underground Storage Tank Trust Fund financing rate. The Department of the Treasury must transfer from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund amounts resulting from the exemption provided by this bill.

The bill also expresses congressional policy that consumers immediately receive the benefit of this exemption.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to provide a gasoline tax holiday.

Policy Areas
Taxation

Potential Impact
Energy prices
Government trust funds
Motor fuels
Oil and gas
Roads and highways
Sales and excise taxes
Transportation programs funding

Comments

Recent Activity

Latest Summary2/14/2022

Gas Prices Relief Act of 2022

This bill provides for a temporary exemption through 2022 from the excise tax on gasoline (other than aviation gasoline) and from the Leaking Underground Storage Tank Trust Fund financing rate...


Latest Action2/9/2022
Read twice and referred to the Committee on Finance.