Legislation recently introduced in the U.S. Senate would lower high gas prices by temporarily suspending the federal gas tax through Dec. 31.
A gallon of gas costs nearly $1 higher than it did a year ago, according to AAA. The Gas Prices Relief Act would suspend the 18.4 cents per gallon federal gas tax.
The bill also would require the Secretary of the Treasury to ensure oil and gas companies pass savings at the pump to consumers. The secretary would be authorized to take appropriate enforcement actions to ensure consumers see the savings.
