A bill to amend the Internal Revenue Code of 1986 to provide a gasoline tax holiday.
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.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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