Pay Less at the Pump Act of 2026
Sen. Barrasso's Pay Less at the Pump Act Would Axe Superfund Oil Tax to Cut Fuel Costs
Legislative Progress
Key Points
- This bill, introduced by Senator Barrasso, would stop a federal tax that is currently charged on crude oil and petroleum products. The main goal is to reduce the overall cost of fuel for everyday drivers.
- The money from this tax normally goes into the 'Superfund,' which is a special fund used by the government to clean up dangerous, polluted sites across the country.
- If this becomes law, the tax would end retroactively starting January 1, 2026. It also changes how the government handles certain loans used to keep the cleanup fund running.
- While the bill aims to save people money at the pump, it could mean there is less money available to fix environmental hazards in local communities unless the government finds another way to pay for those cleanups.
Impact Analysis
Personal Impact
Life & Work
Homeowners near Superfund sites could face two competing effects. On one hand, slightly lower gas prices are a minor benefit. On the other hand, reduced Superfund cleanup funding could mean contaminated sites near their homes go uncleaned for longer, depressing property values and posing health risks. For the majority of homeowners far from such sites, the impact is negligible.
Disabilities
Broader Impacts
State Impacts
Milestones
Read twice and referred to the Committee on Finance. (text: CR S611)
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Lankford backs bill that would cut oil tax for Superfund cleanup
The Pay Less at the Pump Act of 2026 would repeal the Superfund tax on crude oil. While intended to lower gas prices, the move could impact funding for contaminated sites like Tar Creek. The tax was expected to add $11.7 billion to the cleanup program over 10 years.
Lankford's Gas-Tax Rollback Puts Oklahoma Superfund Cleanups On The Line
A Republican proposal would wipe out the federal petroleum 'Superfund' excise tax, a move that could land close to home in Oklahoma where contaminated properties lean heavily on federal dollars. The bill would terminate the excise rate on crude oil and imported petroleum products.
Source Information
Document Type
Congressional Bill
Official Title
Pay Less at the Pump Act of 2026
Data Sources
Sponsor
Cosponsors
(9)Analysis generated by AI. Always verify with official sources.