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Fuel tax relief for vessels: lower maritime transport costs.

This act extends the excise tax exemption for alternative fuels used by vessels operating along a single U.S. coast. The goal is to reduce operational costs for shipping companies, which could lead to more stable prices for goods transported by sea. These changes are effective from January 1, 2022.
Key points
Extends excise tax exemption on fuel for vessels operating along a single coast (Atlantic or Pacific).
Potential reduction in maritime transport costs for businesses, possibly affecting goods prices.
Changes are effective retroactively from January 1, 2022.
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Additional Information
Print number: 117_HR_9130
Sponsor: Rep. Garamendi, John [D-CA-3]
Process start date: 2022-10-04