S. 1942 · 118th Congress
Pay Less at the Pump Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BarrassoSponsor9 cosponsors · 9 R
8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill eliminates the excise tax on domestic crude oil and imported petroleum products (known as the petroleum Superfund tax rate) beginning on January 1, 2023. The bill also eliminates the authority for advances to the Hazardous Substance Superfund from the General Fund of the Treasury.
What it does: CRS summary · Introduced in Senate · Jun 13, 2023
Pay Less at the Pump Act
This bill eliminates the excise tax on domestic crude oil and imported petroleum products (known as the petroleum Superfund tax rate) beginning on January 1, 2023. The bill also eliminates the authority for advances to the Hazardous Substance Superfund from the General Fund of the Treasury.
Under current law, the petroleum Superfund tax rate imposed is 16.4 cents per barrel (indexed annually for inflation). Amounts collected from this tax are deposited into the Hazardous Substance Superfund, which finances the remediation of certain environmentally contaminated sites.
Further, under current law, the authority for advances to be appropriated to the Hazardous Substance Superfund extends through 2032.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Pay Less at the Pump Act
Latest action (Jun 13, 2023): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 13, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.