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119-hr-8795119th CongressWALLET
American Families Gas Tax Relief Act
Sponsored By: Representative Luna, Anna Paulina [R-FL-13]
Introduced
Summary
Temporary federal fuel tax holiday would suspend federal excise taxes on gasoline (excluding aviation gasoline), diesel, and kerosene for 120 days to push down pump prices and provide short-term relief.
Show full summary
- Households and drivers would get immediate price relief at the pump during the 120-day holiday because the bill directs producers and dealers to pass the tax cut through to consumers.
- Transportation fuel producers and other dealers would need to lower posted fuel prices to reflect the tax reduction, and the Treasury Secretary would have authority to enforce that pass-through.
- Lost fuel tax receipts would be replaced by transfers from the Treasury general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund.
- The President could extend the holiday once for up to 90 more days if he determines economic conditions merit it.
*Net effect: the Treasury general fund would cover the tax cut by transferring amounts equal to the lost fuel tax receipts to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund.*
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Temporary gas and diesel tax holiday
If enacted, this bill would set federal excise taxes to zero for gasoline (not aviation), diesel, and kerosene. The tax holiday would apply to fuels removed, entered, or sold during the 120 days after enactment. The President could extend the holiday one time for an additional 90 days. During the holiday, the LUST financing rate would not apply to those fuels. The bill would require Treasury to transfer from the general fund amounts equal to the lost receipts to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. It would state Congress's policy that sellers take actions to lower retail fuel prices to reflect the tax reduction, and it would let the Treasury Secretary use applicable authorities to try to ensure consumers receive the benefit.
Sponsors & CoSponsors
Sponsor
Luna, Anna Paulina [R-FL-13]
FL • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov