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Bill > HR6787


US HR6787

US HR6787
Gas Prices Relief Act of 2022


summary

Introduced
02/18/2022
In Committee
02/18/2022
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL To amend the Internal Revenue Code of 1986 to provide a gasoline tax holiday.

AI Summary

This bill, the Gas Prices Relief Act of 2022, proposes to suspend the federal gasoline tax of 18.4 cents per gallon from the date of enactment through the end of 2022. The bill includes provisions to ensure that the tax reduction is passed on to consumers, with the Secretary of the Treasury required to transfer funds from the general fund to the Highway Trust Fund and Leaking Underground Storage Tank Trust Fund to make up for the lost tax revenue. The bill is intended to provide relief to American families and consumers who have been impacted by the recent surge in gasoline prices and broader inflationary pressures.

Committee Categories

Budget and Finance

Sponsors (22)

Last Action

Referred to the House Committee on Ways and Means. (on 02/18/2022)

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