American Families Gas Tax Relief Act

The American Families Gas Tax Relief Act temporarily eliminates federal excise taxes on gasoline, diesel, and kerosene for a period of 120 days starting on the date of enactment. This tax break is intended to lower fuel prices for consumers, with provisions requiring producers and dealers to pass the savings directly to buyers. The President has the authority to extend this holiday by an additional 90 days if economic conditions warrant it. To maintain funding for infrastructure and environmental programs, the government will transfer the lost tax revenue from the general treasury to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund.