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S 4032
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Gas Prices Relief Act of 2026

To amend the Internal Revenue Code of 1986 to provide a gasoline tax holiday.

Introduced Mar 9, 2026

Latest action (Mar 9, 2026) Read twice and referred to the Committee on Finance.

Referred to
Finance Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary

The bill would suspend the federal gasoline tax from its enactment through September 30, 2026, eliminating the federal tax on gasoline and related fuel taxes. To compensate for lost tax revenue, the Treasury Department would transfer equivalent amounts from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. The bill declares that fuel producers and retailers should pass the tax savings on to consumers through lower prices at the pump. The Treasury Secretary would be authorized to enforce this requirement and penalize companies that fail to reduce prices to reflect the tax savings. The temporary tax holiday would apply to all gasoline removed, entered, or sold during the suspension period.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
1 cosponsor

Actions (2)
  1. Mar 9, 2026 Read twice and referred to the Committee on Finance. · senate
  2. Mar 9, 2026 Introduced in Senate

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • HR 8572 — Gas Prices Relief Act of 2026 · Introduced Apr 29, 2026 · Cong. 119 89%
  • HR 7919 — Gas Prices Relief Act of 2026 · Introduced Mar 12, 2026 · Cong. 119 88%
  • HR 8600 — 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. · Introduced Apr 30, 2026 · Cong. 119 84%
  • S 4485 — Gas Tax Suspension Act · Introduced May 11, 2026 · Cong. 119 84%
  • HR 8795 — American Families Gas Tax Relief Act · Introduced May 13, 2026 · Cong. 119 84%
  • HR 8753 — Gas Tax Relief Act · Introduced May 12, 2026 · Cong. 119 82%

Full text

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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