To amend the Internal Revenue Code of 1986 to temporarily suspend certain fuel excise taxes for fuel separated during periods in which the national average price of gasoline exceeds $3.99 per gallon, and to prohibit certain credits or deductions for oil and gas companies during such periods.
Bill Summary
Suspends certain fuel excise taxes when the national average gasoline price exceeds $3.99 per gallon, and prohibits oil and gas companies from claiming certain tax credits or deductions during these periods. Requires the suspension and prohibition to be in effect temporarily.
Sponsored By
Bill Journey
- Apr 30, 2026
- Apr 30, 2026You Are Here
The committee will review the bill, debate amendments, and vote on whether to advance it to the full chamber.
- TBD
The full chamber debates the bill, may amend it, and votes on whether to pass it.
- TBD
If passed by the first chamber, the other chamber considers, may amend, and votes on the bill.
- TBD
If passed by both chambers, the bill goes to the President to sign into law or veto.
Why It Matters
This bill affects oil and gas companies by prohibiting them from claiming certain tax credits or deductions when gasoline prices are high, and it affects consumers by potentially reducing the cost of fuel when the national average gasoline price exceeds $3.99 per gallon.
Impact Areas
Support & Opposition
- Democratic1
Documents
1
Full text opens on congress.gov, the official source.
Bill Details
- Economy
- Climate
Summary and impact analysis written by Judy (KnowGov's enrichment AI). Bill metadata, status, sponsor, and any floor votes from Prism. Sections marked “Sample” are placeholders not yet connected to live data.