Bill Would Create A Gas Tax Holiday Through End of the Year, Provide Nevadans Economic Relief from High Gas Prices
WASHINGTON, DC – U.S. Senator Jacky Rosen (D-NV) joined Senators Mark Kelly (D-AZ) and Maggie Hassan (D-NH) to introduce the Gas Prices Relief Act, legislation to lower high gas prices and bring financial relief to Nevada families by temporarily suspending the federal gas tax through the end of 2022. In addition to Senator Rosen, this legislation is also co-sponsored by Senators Debbie Stabenow (D-MI), Catherine Cortez Masto (D-NV), and Raphael Warnock (D-GA).
According to AAA, 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. Nevada is also one of the most expensive markets for gas prices.
“We must take action to lower costs for hardworking families by addressing the high cost of gas in Nevada and across our nation,” said Senator Rosen. “This commonsense legislation will directly help Nevadans make ends meet by bringing down costs at the gas pump.”
The Gas Prices Relief Act will lower high gas prices and deliver much-needed economic relief to Nevadans by:
- Suspending the 18.4 cents per gallon federal gas tax until January 1, 2023.
- Passing tax savings to Americans and not oil and gas companies by requiring the Secretary of the Treasury to monitor oil and gas companies’ actions to pass along the savings at the pump to consumers. The bill also encourages the Treasury 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 the Highway Trust Fund and keep it solvent.
###
