HR 7926
117th Congress
House
Taxation
Federal Gas Tax Suspension and Windfall Profits Tax Act of 2022
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 31, 2022
Referred to the House Committee on Ways and Means.
May 31, 2022
Introduced in House
Plain-English summary
Federal Gas Tax Suspension and Windfall Profits Tax Act of 2022
This bill suspends the excise tax on gasoline (other than aviation gasoline) until December 31, 2023. It also imposes a 50% tax on the excess profits of certain large oil companies in the first taxable year after 2021.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1