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Read. Follow. Verify.Proposed Gas Tax Relief and Oil Industry Tax Credit Suspension Act
Last action · April 30, 2026: Referred to the House Committee on Ways and Means.Sponsors: Brendan Boyle and 8 others
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What This Bill Would Do
This bill proposes to lower federal gasoline taxes whenever the national average price of gas exceeds $3.99 per gallon. To offset the lost tax revenue, it would temporarily suspend specific tax credits and deductions currently available to oil and gas companies during those same high-price periods.
If passed, this bill would trigger a reduction in federal fuel taxes for consumers when gas prices are high, while simultaneously removing certain tax breaks for oil and gas companies to ensure the Highway Trust Fund remains funded.
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Gasoline consumers
Consumers would pay lower federal fuel taxes when the national average price of gasoline exceeds $3.99 per gallon.
Oil and gas companies
These companies would be unable to claim specific tax credits and deductions during months when the national average price of gasoline exceeds $3.99 per gallon.
Key Facts
- The bill reduces federal fuel taxes by 1 cent for every 1 cent that the national average gasoline price exceeds $3.99 per gallon.
- The tax reduction applies only during months where the national average price of gasoline is above $3.99 per gallon.
- The Secretary of the Treasury must transfer money from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund to replace revenue lost from the tax reduction.
- Oil and gas companies are prohibited from claiming the 'Intangible Drilling Costs' deduction during any month where the national average gas price exceeds $3.99.
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- Oil and gas companies are prohibited from claiming the 'Enhanced Oil Recovery Credit' during any month where the national average gas price exceeds $3.99.
- Oil and gas companies are prohibited from claiming the 'Marginal Well Credit' for production occurring during any month where the national average gas price exceeds $3.99.
- The provisions of this bill apply to taxable years beginning after December 31, 2025.
Frequently Asked Questions
Will my gas taxes go down automatically if prices are high?
How will the government pay for the lost tax revenue?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently in committee. The next step in the legislative lifecycle is Floor Vote.
Procedural history
2 actions- Apr 30, 2026HouseCommitteeReferred to the House Committee on Ways and Means.
- Apr 30, 2026HouseIntroducedIntroduced in House
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Conditional Tax Policy
The bill introduces a dynamic tax policy where federal tax rates and corporate deductions are tied directly to the fluctuating national average price of a commodity (gasoline).
Connected Entities
Sources
www.congress.gov
Analysis Score
0–100- Significance85How much this matters to a regular citizen
- Controversy75Intensity of disagreement among stakeholders
- Entertainment20Compellingness for a non-policy-wonk reader
- Buzz60Current news / social attention level
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