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.).
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