Sens. Kelly, Hassan Lead Colleagues in Introducing Bill to Lower High Gas Prices at the Pump
Bill would temporarily suspend the federal gas tax, provide families economic relief from high gas prices
Bill would eliminate 18 cents per gallon gas tax
Today, U.S. Senators Mark Kelly (D-AZ) and Maggie Hassan (D-NH) are introducing the Gas Prices Relief Act, legislation to lower high gas prices by temporarily suspending the federal gas tax through the end of the year, bringing much-needed economic relief to families across Arizona and the country. Kelly and Hassan’s bill is also co-sponsored by Senators Debbie Stabenow (D-MI), Catherine Cortez Masto (D-NV), Raphael Warnock (D-GA), and Jackie Rosen (D-NV).
“Arizonans are paying some of the highest prices for gas we have seen in years and it’s putting a strain on families who need to fill up the tank to get to work and school,“ said Senator Kelly. “This bill will lower gas prices by suspending the federal gas tax through the end of the year to help Arizona families struggling with high costs for everything from gas to groceries.”
“This legislation is about making sure that we get Granite Staters relief at the gas pump. People are feeling a real pinch on everyday goods, and we must do more to help address rising costs, particularly the price of gas,”said Senator Hassan. “We need to continue to think creatively about how we can find new ways to bring down costs, and this bill would do exactly that, making a tangible difference for workers and families.”
“This is important legislation that will help us lower costs for Nevada families,” said Senator Cortez Masto. “I’m committed to finding solutions that bring our families some much-needed relief at the pump and help them get ahead.”
“Whether it’s working to ease supply chain issues, crack down on corporate greed, or cap out-of-pocket costs for prescription drugs, I’m committed to lowering rising costs for Georgia families,” said Senator Reverend Warnock. “Hardworking Georgians being squeezed at the pump understand that every penny counts. I’m proud to join my colleagues in introducing the Gas Prices Relief Act to help working and middle class families overcome the economic pressures of the pandemic, and come out on top.”
The Gas Prices Relief Act will lower high gas prices and deliver much-needed economic relief to Americans across the country by:
- Suspending the 18.4 cents per gallon federal gas tax until January 1, 2023. Currently, the national average for the cost of a gallon of gas is nearly one dollar higher than it was at the same time last year, according to AAA. Last year, Arizona was ranked by AAA as one of the most expensive markets for gas prices.
- Passing tax savings to Americans and not oil and gas companies by requiring the Secretary of the Treasury to monitor the program in order to ensure oil and gas companies pass along the savings at the pump to consumers. The bill also encourages the Secretary to take appropriate enforcement actions to ensure consumers see these savings.
- Maintaining the integrity of the Highway Trust Fund by requiring the Department of the Treasury to make general fund transfers to keep the Highway Trust Fund solvent.
Kelly’s legislation builds on his work in the Senate to lower rising costs for Arizona families by tackling supply chain issues driving up prices for gas and food. Kelly has successfully pushed the Biden administration to take immediate steps to bring down these higher prices like increasing domestic oil and gas production.
Hassan has been working across the aisle to lower costs for Granite Staters and get relief to New Hampshire. Hassan successfully called on the Biden administration to take action to help lower energy costs by releasing oil from the Strategic Petroleum Reserve. Last week, Hassan and Senator Blunt introduced a bipartisan bill to provide tax relief to middle class homeowners that would permanently extend a tax deduction for homebuyers.
To read the text of the Gas Prices Relief Act, click HERE.