February 12, 2026
Mr. Carey (for himself, Mr. Hern of Oklahoma, Mrs. Miller of West Virginia, Ms. Malliotakis, and Mr. Wied) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to terminate the Hazardous Substance Superfund financing rate.
Section 1. Short title
This Act may be cited as the Pay Less at the Pump Act of 2026
.
Sec. 2. Termination of Hazardous Substance Superfund financing rate
(a) In general
Section 4611 of the Internal Revenue Code of 1986 is amended by inserting after subsection (d) the following new subsection:
(e) Application of Hazardous Substance Superfund financing rate
The Hazardous Substance Superfund financing rate under this section shall not apply after December 31, 2025.
(b) Termination of authority for advances
Section 9507(d)(3)(B) of such Code is amended—
(1)
by striking December 31, 2032
and inserting the date of the enactment of the Pay Less at the Pump Act of 2026
, and
(2)
by striking on or before such date
and inserting on a quarterly basis from unobligated amounts available in such Fund until repaid in full
.
(c) Effective date
(1) In general
The amendment made by subsection (a) shall take effect on January 1, 2026.
(2) Termination of authority for advances
The amendments made by subsection (b) shall take effect on the date of the enactment of this Act.