H.R. 8572

119 HR 8572 IH: Gas Prices Relief Act of 2026
 U.S. House of Representatives
 2026-04-29
 text/xml
 EN
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 I  119th CONGRESS  2d Session  H. R. 8572  IN THE HOUSE OF REPRESENTATIVES   April 29, 2026   Mr. Harder of California  (for himself and  Ms. Schrier ) introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To provide a gasoline tax holiday.
1.
Short title
This Act may be cited as the   Gas Prices Relief Act of 2026  .
2.
2026 gasoline tax holiday
(a)
In general
In the case of gasoline removed, entered, or sold on or after the date of the enactment of this Act and before January 1, 2027—
(1)
the rate of tax under  section 4081(a)(2)(A)(i)  of the Internal Revenue Code of 1986 shall be zero, and
(2)
the Leaking Underground Storage Tank Trust Fund financing rate under section 4081(a)(2) of such Code shall not apply to gasoline to which the rate under paragraph (1) applies.
(b)
Transfers to Trust Fund
(1)
In general
The Secretary of the Treasury (or the Secretary’s delegate) shall transfer from the general fund to the Highway Trust Fund established under  section 9503(a)  of the Internal Revenue Code of 1986 and the Leaking Underground Storage Tank Trust Fund established under section 9508(a) of such Code amounts equal to the reduction in amounts credited (but for this subsection) to each such Trust Fund by reason of subsection (a).
(2)
Coordination rules
(A)
Leaking Underground Storage Tank Trust Fund
Amounts transferred to the Leaking Underground Storage Tank Trust Fund under paragraph (1) shall be treated for purposes of sections 9503(b)(1) and 9508(b)(2) of such Code as taxes received in the Treasury under section 4081 of such Code attributable to the Leaking Underground Storage Tank Trust Fund financing rate.
(B)
Highway Trust Fund
Amounts transferred to the Highway Trust Fund under paragraph (1) shall be treated for purposes of section 9503(b)(1) of such Code as taxes received in the Treasury under section 4081 of such Code which are not attributable to the Leaking Underground Storage Tank Trust Fund financing rate.
(c)
Benefits of tax reduction should be passed on to consumers
(1)
It is the policy of Congress that—
(A)
consumers immediately receive the benefit of the reduction in taxes resulting from the application of subsection (a), and
(B)
transportation motor fuels producers and other dealers take such actions as necessary to reduce transportation motor fuels prices to reflect such reduction.
(2)
Enforcement
The Secretary of the Treasury (or the Secretary’s delegate) may use all applicable authorities to ensure that the benefit of the reduction in taxes resulting from the application of subsection (a) is received by consumers.