What does Preamble of Gas Prices Relief Act of 2026 do?

This bill is formally titled 'To provide a gasoline tax holiday.' The bill was introduced in the House of Representatives on April 29, 2026.

What does SHORT TITLE. of Gas Prices Relief Act of 2026 do?

This bill is formally titled the Gas Prices Relief Act of 2026.

What does 2026 GASOLINE TAX HOLIDAY. of Gas Prices Relief Act of 2026 do?

This section establishes a gasoline tax holiday from the date of enactment until January 1, 2027. During this period, the rate of tax under section 4081(a)(2)(A)(i) of the Internal Revenue Code of 1986 will be zero. The Leaking Underground Storage Tank Trust Fund financing rate under section 4081(a)(2) of the Internal Revenue Code of 1986 will also not apply. The Secretary of the Treasury will transfer amounts from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund to offset the revenue reduction. The transfers to the Leaking Underground Storage Tank Trust Fund will be treated as taxes attributable to that fund. Transfers to the Highway Trust Fund will be treated as taxes not attributable to the Leaking Underground Storage Tank Trust Fund financing rate. Congress intends for consumers to immediately benefit from the tax reduction and for fuel producers and dealers to adjust prices accordingly. The Secretary of the Treasury may use applicable authorities to ensure consumers receive the tax reduction benefit.

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Gas Prices Relief Act of 2026

Last updated: 4/29/2026 · Introduced: 4/29/2026

Author: Josh Harder (D-CA)

TL;DR (AI)

This bill creates a gasoline tax holiday from the date of enactment until January 1, 2027, eliminating the federal tax under section 4081(a)(2)(A)(i) of the Internal Revenue Code.
To compensate for lost revenue, the bill directs the Secretary of the Treasury to transfer funds from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund.
The bill intends for fuel producers and dealers to immediately adjust prices to reflect the gasoline tax reduction, ensuring consumers benefit.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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