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.

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 4 April 1995

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 4 April 1995

   Introduced

   Sponsor introductory remarks on measure. (CR S5143-5144)

   Source: IntroReferral

3. 4 April 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 4 April 1995 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 4 April 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 4 April 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 4 April 1995

  Open at official source

Sponsors

• Rep. Simon, Paul [D-IL-24] · D · Sponsor
• · ssfi00 · Standing

Related records

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