S.4032

Gas Prices Relief Act of 2026 suspends federal gasoline taxes until October 1, 2026.

The Gas Prices Relief Act of 2026 suspends federal gasoline taxes from the date of enactment until October 1, 2026. 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. Additionally, it requires that the benefits of the tax reduction be passed on to consumers, with penalties for producers and dealers who fail to reduce prices accordingly.