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.
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 9
- Latest action
- Apr 30, 2026
What it does
The bill would temporarily suspend federal fuel excise taxes when the national average gasoline price exceeds $3.99 per gallon, reducing the tax by 1 cent for each cent the price exceeds that threshold, while requiring equivalent transfers to the Highway Trust Fund and Leaking Underground Storage Tank Trust Fund to offset lost revenue. During the same high-price periods, it would prohibit oil and gas companies from claiming certain tax credits and deductions, including for intangible drilling costs, enhanced oil recovery, and marginal well production. The changes would apply to taxable years beginning after December 31, 2025.
AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.