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This bill would establish a summer gas tax holiday, suspending the 18.4 cents per gallon Federal gas tax, and the 24.4 cent diesel tax, between Memorial Day and Labor Day 2008.
OpenCongress bill summaries are written by OpenCongress editors and are entirely independent of Congress and the federal government. For the summary provided by Congress itself, via the Congressional Research Service, see the "Official Summary" below.
Amends the Internal Revenue Code to suspend excise taxes on gasoline and diesel fuels between May 26, 2008, and September 1, 2008. Provides for reimbursement from the Treasury to the Highway Trust Fund for any reduction in Trust Fund receipts resulting from such suspension.Expresses the pol...Read the Rest