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118th Congress Taxation

S. 1942: Pay Less at the Pump Act

Introduced

  1. Introduced (completed)Jun 13, 2023
  2. Passed Senate (not reached)
  3. Passed House (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Introduced in Senate, Jun 13, 2023

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.

Written by the Congressional Research Service, Library of Congress.

Roll calls

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Amendments

0 offered

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Cosponsors

9

Who scored on this bill

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Other bills by John Barrasso

History

  1. Jun 13, 2023Introduced in the Senate by John Barrasso.
Show the full action history (2 actions)
  1. Jun 13, 2023Introduced in Senate
  2. Jun 13, 2023Read twice and referred to the Committee on Finance.