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Pay Less at the Pump Act

USA118th CongressS-1942| Senate 
| Updated: 6/13/2023
John Barrasso

John Barrasso

Republican Senator

Wyoming

Cosponsors (9)
Mike Lee (Republican)James E. Risch (Republican)Cynthia M. Lummis (Republican)Marsha Blackburn (Republican)John Thune (Republican)Tim Scott (Republican)James Lankford (Republican)Josh Hawley (Republican)John Hoeven (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Pay Less at the Pump Act This bill eliminates the excise tax on domestic crude oil and imported petroleum products (known as the petroleum Superfund tax rate) beginning on January 1, 2023. The bill also eliminates the authority for advances to the Hazardous Substance Superfund from the General Fund of the Treasury. Under current law, the petroleum Superfund tax rate imposed is 16.4 cents per barrel (indexed annually for inflation). Amounts collected from this tax are deposited into the Hazardous Substance Superfund, which finances the remediation of certain environmentally contaminated sites. Further, under current law, the authority for advances to be appropriated to the Hazardous Substance Superfund extends through 2032.
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Timeline
May 25, 2023

Latest Companion Bill Action

HR 118-3678
Introduced in House
Jun 13, 2023
Introduced in Senate
Jun 13, 2023
Read twice and referred to the Committee on Finance.
  • May 25, 2023

    Latest Companion Bill Action

    HR 118-3678
    Introduced in House


  • June 13, 2023
    Introduced in Senate


  • June 13, 2023
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 118-3678: Pay Less at the Pump Act

Pay Less at the Pump Act

USA118th CongressS-1942| Senate 
| Updated: 6/13/2023
Pay Less at the Pump Act This bill eliminates the excise tax on domestic crude oil and imported petroleum products (known as the petroleum Superfund tax rate) beginning on January 1, 2023. The bill also eliminates the authority for advances to the Hazardous Substance Superfund from the General Fund of the Treasury. Under current law, the petroleum Superfund tax rate imposed is 16.4 cents per barrel (indexed annually for inflation). Amounts collected from this tax are deposited into the Hazardous Substance Superfund, which finances the remediation of certain environmentally contaminated sites. Further, under current law, the authority for advances to be appropriated to the Hazardous Substance Superfund extends through 2032.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 25, 2023

Latest Companion Bill Action

HR 118-3678
Introduced in House
Jun 13, 2023
Introduced in Senate
Jun 13, 2023
Read twice and referred to the Committee on Finance.
  • May 25, 2023

    Latest Companion Bill Action

    HR 118-3678
    Introduced in House


  • June 13, 2023
    Introduced in Senate


  • June 13, 2023
    Read twice and referred to the Committee on Finance.
John Barrasso

John Barrasso

Republican Senator

Wyoming

Cosponsors (9)
Mike Lee (Republican)James E. Risch (Republican)Cynthia M. Lummis (Republican)Marsha Blackburn (Republican)John Thune (Republican)Tim Scott (Republican)James Lankford (Republican)Josh Hawley (Republican)John Hoeven (Republican)

Finance Committee

Taxation

Related Bills

  • HR 118-3678: Pay Less at the Pump Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted