Fuels

Senators Introduce Bill to Lower High Gasoline Prices

Legislation would temporarily suspend federal gas tax
tax
Photograph: Shutterstock

WASHINGTON — U.S. senators Maggie Hassan (D-N.H.) and Mark Kelly (D-Ariz.) have introduced the Gas Prices Relief Act, legislation to lower high gas prices by temporarily suspending the federal gas tax through the end of the year to bring economic relief to motorists nationwide.

The Gas Prices Relief Act will suspend the 18.4-cents-per-gallon federal gas tax until Jan. 1, 2023. Currently, the national average for the cost of a gallon of gas is nearly one dollar higher than it was at the same time last year, according to AAA.

“This legislation is about making sure that we get [Americans] relief at the gas pump. People are feeling a real pinch on everyday goods, and we must do more to help address rising costs, particularly the price of gas,” said Hassan. “We need to continue to think creatively about how we can find new ways to bring down costs, and this bill would do exactly that, making a tangible difference for workers and families.”

The legislation requires the U.S. Secretary of the Treasury to monitor the program in order to ensure oil and gas companies pass along the savings at the pump to consumers. The bill also encourages the secretary to take appropriate enforcement actions to ensure consumers see these savings. 

The bill also maintains the integrity of the Highway Trust Fund by requiring the U.S. Department of the Treasury to make general fund transfers to keep the fund solvent.

The bill is also co-sponsored by senators Debbie Stabenow (D-Mich.), Catherine Cortez Masto (D-Nev.), Raphael Warnock (D-Ga.) and Jackie Rosen (D-Nev.).

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Foodservice

More Evidence Suggests an Improving Fast-Food Market

Burger King and Popeyes saw improving sales in October behind better promotions; but lower gas prices and easing inflation may also be driving those results

Company News

Hurricane Helene’s Effects Felt Far and Wide

Convenience stores across the Southeast and beyond grapple with effects of hurricanes

Foodservice

Grocers Are Not Quite the Pizza Chain Competitors That We Thought

We’ve long thought that pizza delivery chains were in a tough fight against the grocery store; comments from Domino’s and data from Technomic say otherwise

Trending

More from our partners