A bill to amend the Internal Revenue Code of 1986 to increase motor fuel taxes by 8 cents a gallon, the resulting revenues to be used for mass transit, AMTRAK, and interstate, State, and local roads and bridges, and for other purposes.
Read twice and referred to the Committee on Finance.
Congressional Research Service
Official summary
Version 00 · Introduced in Senate · Apr 4, 1995
Amends the Internal Revenue Code to increase the rate of tax on gasoline and diesel fuel. Imposes the tax on such products held in a foreign trade zone on the date of the tax increase if taxes have been determined or customs duties liquidated. Doubles the amount transferred to the Mass Transit Account of the Highway Trust Fund from revenues resulting from the tax on special motor fuels, gasoline, and diesel fuel. Establishes in such Fund the following separate accounts to which a portion of such fuel tax revenues shall be transferred for capital or capital-related expenditures before October 1, 1997: (1) an AMTRAK Account; (2) an Interstate and Federal-Aid Highway Account; and (3) a State and Local Roads and Bridges Account.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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