Senators Look To Ease High Gas Prices, But Only Temporarily

U.S. Senators Mark Kelly (D-AZ) and Richard Blumenthal (D-CT) introduced their Gas Prices Relief Act to the Senate. Meanwhile, Representative Chris Pappas (D-NH-01) will introduce companion legislation in the House. The act looks to suspend the 18.4 cents-per-gallon federal gas tax through October 1, 2026. The trio hopes the suspension of the tax will bring down fuel prices, which have risen following the war in Iran and a bottleneck in the Strait of Hormuz, through which much of global oil trade flows.