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119-hr-8600Committee
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To amend the Internal Revenue Code of 1986 to temporarily suspend certain fuel excise taxes for fuel separated during periods in which the national average price of gasoline exceeds $3.99 per gallon, and to prohibit certain credits or deductions for oil and gas companies during such periods.

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Summary

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Based on the bill's title, this measure would amend the Internal Revenue Code to temporarily suspend federal fuel excise taxes on fuel separated during periods when the national average gasoline price exceeds $3.99 per gallon. The bill would also prohibit certain tax credits or deductions for oil and gas companies during those same high-price periods. The bill was referred to the House Committee on Ways and Means and the full text is not available for review.

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