To amend the Internal Revenue Code of 1986 to provide for a suspension of the highway fuel tax and to impose a temporary fee on excess oil profits.
Federal Gas Tax Suspension and Windfall Profits Tax Act of 2022
This bill suspends the excise tax on gasoline (other than aviation gasoline) until December 31, 2023. It also imposes a 50% tax on the excess profits of certain large oil companies in the first taxable year after 2021.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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