The Gas Prices Relief Act of 2026 temporarily eliminates the federal excise tax on gasoline for fuel sold between the date of enactment and January 1, 2027. To maintain funding for highway and environmental projects, the Treasury Department will transfer money from the general fund to replace the lost tax revenue. The bill also directs the Treasury to enforce measures ensuring that fuel producers and dealers pass these tax savings directly to consumers through lower prices.
The Supporting Energy and Economic Development (SEED) Act extends tax credits for biodiesel and renewable diesel through 2029 to encourage the production and use of these fuels. It prevents companies from claiming both income and excise tax credits for the same fuel by eliminating the double benefit for clean fuel production credits. Additionally, the bill clarifies rules for excise tax incentives, ensuring they apply to fuel used for taxable purposes after December 31, 2024, and before the law's enactment. These changes directly affect fuel producers, distributors, and businesses that utilize biodiesel or renewable diesel in their operations.
This joint resolution encourages U.S. states to establish "Veterans Tax Relief Weekends" to benefit veterans, active duty military personnel, Reservists, and National Guard members. It proposes that states voluntarily implement three-day sales tax holidays coinciding with Memorial Day, Independence Day, and Veterans Day. During these periods, eligible individuals and their families would receive temporary relief from state sales taxes on consumer purchases, offering a practical way for communities to recognize their service.
This bill establishes a new excise tax on crude oil extracted or imported by large oil companies and uses the revenue to provide rebates to eligible consumers. The tax would be imposed on companies that extract or import over 300,000 barrels of crude oil per day, at a rate of 50% of the difference between the current Brent crude oil price and a 2025 baseline price, adjusted for inflation. All revenue from this tax would be deposited into a new "Protect Consumers from Gas Hikes Fund." This fund would then be used to provide refundable tax credits, or rebates, to eligible individuals, with the rebate amount determined by the Secretary based on fund revenues and the number of eligible individuals. These rebates would be phased out for individuals with adjusted gross incomes exceeding certain thresholds, such as $150,000 for joint filers.
The Gas Prices Relief Act of 2026 would temporarily suspend federal gasoline taxes and the Leaking Underground Storage Tank Trust Fund financing rate from its enactment until October 1, 2026, aiming to reduce costs for consumers who purchase gasoline. Specifically, it sets the federal excise tax on gasoline to zero during this period. To prevent funding shortfalls, the bill directs the Treasury to transfer equivalent amounts from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. It also includes a policy that the tax reduction should be passed on to consumers and empowers the Secretary of the Treasury to ensure this, potentially through monetary penalties for producers and dealers who do not reduce prices.
This bill, the Restoring College Access and Affordability Act, primarily reverses several changes made to federal student loan and grant programs in previous legislation. It restores previous loan limits, repayment terms, and deferment options that were altered by prior laws, affecting current and future student borrowers. The bill also modifies eligibility rules for Pell Grants and adjusts criteria for determining which educational programs can be deemed low-earning, specifically including programs that award associate's degrees and certificates. Additionally, it delays certain federal regulations related to borrower defense claims and closed school discharges, while reducing the excise tax on private college endowment income to 1.4 percent.
This bill establishes a federal grant program to help States, Indian Tribes, and Tribal organizations provide services to people struggling with gambling addiction. The program would fund prevention efforts, screening, treatment, and support services including training for healthcare providers, public awareness campaigns, and access to help lines and peer support groups. Grants would be awarded competitively, with priority given to programs serving vulnerable populations such as Native Americans, veterans, youth, and those in rural or underserved areas. Funding would come from a portion of the federal excise tax on gambling, with amounts adjusted annually for inflation.
This bill, titled the Gas Prices Relief Act of 2026, would temporarily eliminate the federal gasoline tax for fuel sold between the date of enactment and October 1, 2026. The legislation directly affects gasoline producers, dealers, and consumers by setting the tax rate to zero during this period while requiring producers and dealers to pass the savings directly to consumers. To maintain funding for road infrastructure and environmental programs, the bill mandates that the Treasury transfer equivalent amounts from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. Additionally, the bill includes enforcement provisions that impose monetary penalties on fuel sellers who fail to pass the tax savings on to consumers.
This bill creates a new Business Child Care Liaison position within the Internal Revenue Service to help businesses understand and use tax benefits for employee child care. The Liaison would connect businesses with various organizations, provide public education on employer-provided child care options, and issue guidance materials for tax return preparers. Additionally, the role would coordinate with other federal agencies and state governments to reduce information barriers for small businesses and report annually on the progress of child care benefit utilization. The position would be exempt from standard federal appointment rules and would submit annual reports to Congress detailing outreach activities and recommendations for improving access to child care tax incentives.
This bill, titled the HOPE for Homeownership Act, imposes a 15 percent excise tax on hedge funds that purchase single-family homes with 1 to 4 units. The tax applies to any hedge fund taxpayer that manages at least $50 million in assets and acquires a majority ownership interest in such residential properties. Additionally, the legislation disallows mortgage interest deductions and depreciation for hedge funds that rent or lease these homes, while also reducing their eligibility for certain business income tax benefits. These tax changes are designed to discourage institutional investors from buying residential properties for investment purposes.
