S4032Referred to Committee

Gas Prices Relief Act of 2026

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-03-09
Introduced
1
Cosponsors
S
ⓘ
Type

Sponsor

Mark Kelly
Mark Kelly
Democrat · AZ · Senator
Votes with party: 51.9% (308 recorded votes)

Full profile: /officials/K000377

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2026-03-09

Source: Congress.gov

Committee Activity

Currently in

Previously

Plain-English Summary

This bill would likely reduce federal taxes or fees related to gasoline to help lower gas prices for consumers at the pump. The exact approach isn't yet clear since the bill is still in early stages, but it could involve suspending the federal gas tax, providing tax credits to drivers, or adjusting how fuel is taxed. The measure would primarily affect everyday drivers and potentially the federal government's transportation funding.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Taxation

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4032 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4032 To amend the Internal Revenue Code of 1986 to provide a gasoline tax holiday. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 9, 2026 Mr. Kelly (for himself and Mr. Blumenthal) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide a gasoline tax holiday. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Gas Prices Relief Act of 2026''. SEC. 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 October 1, 2026-- (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)(B) 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 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), (B) transportation motor fuels producers and other dealers take such actions as necessary to reduce transportation motor fuels prices to reflect such reduction, and (C) transportation motor fuels producers and other dealers that fail to reduce transportation motor fuels prices to reflect such reduction shall be subject to monetary penalties which are not less than the amount of the reduction in taxes which should have been passed on to consumers. (2) Enforcement.--The Secretary of the Treasury shall 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. <all>
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