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Ending Superfund Tax on Oil to Potentially Lower Fuel Prices.

This bill permanently terminates the federal Hazardous Substance Superfund financing rate, an excise tax levied on crude oil and petroleum products. The change, effective retroactively to January 1, 2023, aims to reduce the cost component of fuel, potentially leading to lower prices at the gas pump for consumers. However, it also removes a dedicated funding source for cleaning up hazardous waste sites.
Key points
Eliminates the federal tax (Superfund financing rate) applied to crude oil and petroleum products, intended to reduce consumer fuel costs.
The tax termination is effective retroactively starting January 1, 2023.
The law also ends the authority for the Superfund to receive advances (loans) from the general Treasury funds for environmental cleanup purposes.
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Expired
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Additional Information
Print number: 118_S_1942
Sponsor: Sen. Barrasso, John [R-WY]
Process start date: 2023-06-13
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Pay Less at the Pump Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1942.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-06-13.

What are the main provisions?

Key points include:

  • Eliminates the federal tax (Superfund financing rate) applied to crude oil and petroleum products, intended to reduce consumer fuel costs.
  • The tax termination is effective retroactively starting January 1, 2023.
  • The law also ends the authority for the Superfund to receive advances (loans) from the general Treasury funds for environmental cleanup purposes.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Barrasso, John [R-WY].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Environment