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Senators Hassan and Kelly Introduce 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

WASHINGTON – Today, U.S. Senator Maggie Hassan (D-NH) and Senator Mark Kelly (D-AZ) led colleagues in 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 New Hampshire.

 

“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.”

 

The Gas Prices Relief Act will lower high gas prices and deliver much-needed economic relief to Granite Staters 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.
  • 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.

 

This legislation builds on Senator Hassan’s work to lower costs for Granite State families. Senator Hassan successfully called on the Biden administration to take action to help lower energy costs by releasing oil from the Strategic Petroleum Reserve. Recently, Senators Hassan and Roy Blunt (R-MO) introduced a bipartisan bill to provide tax relief to middle class homeowners that would permanently extend a tax deduction for homebuyers.

 

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