Lawmakers Propose Tax Breaks and Commuter Deductions Amid High Gas Prices
Congressional lawmakers have introduced several bills aimed at alleviating high gasoline and diesel prices, which remain elevated due to global supply disruptions. The average price for regular unleaded gasoline is $4.48 per gallon, while diesel averages about $6.53 — both significantly higher than a month or year ago. These proposals include suspending federal gas taxes temporarily and offering tax deductions on commuting expenses. One bipartisan bill would allow workers to deduct up to $4,080 annually in commuting costs from their taxable income, potentially easing financial pressure for some households. Another proposal by Rep. Andy Harris seeks a temporary suspension of the 18.4-cent-per-gallon gas and 24.4-cent-per-gallon diesel federal excise taxes through December 31. Analysts note that while these measures could provide modest relief, their benefits may be limited or delayed due to timing — such as tax deductions only being realized during the following year’s filing season.
Topics: congressional bills cost of living diesel prices gas prices midterm elections