If enacted, HB 3768 will lead to a zero tax rate for gasoline under the specified provisions. This means that both the regular gasoline tax and associated fees for the Leaking Underground Storage Tank Trust Fund would not apply, effectively reducing the cost of gasoline at the consumer level. Furthermore, the bill mandates that the benefits of this tax reduction must be passed on to consumers, ensuring that the anticipated decrease in fuel prices directly translates to lower costs at the pump. The Secretary of the Treasury is given enforcement authority to ensure compliance with this policy, which aims to uphold consumer interests during the tax holiday.
Summary
House Bill 3768, titled the Gas Prices Relief Act of 2025, proposes a temporary gasoline tax holiday aimed at providing immediate financial relief to consumers. The bill seeks to amend the Internal Revenue Code of 1986 by waiving the federal gasoline tax for gasoline sold or removed from the market within a specified timeframe extending until January 1, 2026. The intention behind this measure is to alleviate the financial burden on consumers amidst rising gas prices, which have been a significant concern in the current economic climate.
Contention
Despite its consumer-friendly approach, the bill is likely to encounter contention regarding its fiscal implications. Critics may argue that such tax holidays could undermine essential funding for infrastructure projects supported by the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. By suspending federal gasoline taxes, there is concern about potential long-term impacts on these funds, which are crucial for maintaining and improving transportation networks. The debate may also center on whether the tax holiday will genuinely lead to sustained price reductions, or if oil companies might not pass on the savings to consumers as intended.
To cap the emissions of greenhouse gases through a requirement to purchase carbon permits, to distribute the proceeds of such purchases to eligible individuals, and for other purposes.
MARKET CHOICE Act Modernizing America with Rebuilding to Kickstart the Economy of the Twenty-first Century with a Historic Infrastructure-Centered Expansion Act