Gas Prices Relief Act of 2026 provides a temporary gasoline tax holiday.
The Gas Prices Relief Act of 2026 establishes a temporary gasoline tax holiday from the date of enactment until January 1, 2027. During this period, the tax rate on gasoline is set to zero. The bill also mandates that the Secretary of the Treasury transfer funds from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund to compensate for the lost tax revenue. The act ensures that the benefits of the tax reduction are passed on to consumers, requiring transportation motor fuels producers and dealers to adjust prices accordingly.
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