That’s why we need to pass Adam’s Federal Gas Tax Suspension and Windfall Profits Tax Act, which would do just that.
Suspend the federal gas tax and make oil companies pay for it through a windfall profits tax.
Occurrences
Lower Gas Prices
Evidence
The campaign’s affordability agenda says to lower gas prices by suspending the gas tax and making oil companies pay for it instead, via Adam’s Federal Gas Tax Suspension and Windfall Profits Tax Act.
Adam B. Schiff introduced H.R. 7926 on May 31, 2022; Congress.gov says it was referred to the House Ways and Means Committee and remained at the introduced stage.
The Senate biography says Schiff was elected to the U.S. Senate in 2024 and later served his full six-year term beginning January 3, 2025.
Assessments
Schiff made a concrete federal legislative attempt by introducing H.R. 7926, the Federal Gas Tax Suspension and Windfall Profits Tax Act of 2022, while serving in the House. The bill matched the promise by suspending the federal gasoline excise tax and imposing a tax on excess profits of large oil companies, but Congress.gov shows it was only introduced and referred to House Ways and Means on May 31, 2022, with no enactment. No evidence shows the promised federal gas-tax suspension and oil-company windfall profits tax became law during his House term or later Senate service. Because there was a serious legislative attempt but the outcome was not delivered, this is never with an effort badge.