Gas Price Spike Relief Act of 2005

The Gas Price Spike Relief Act of 2005 was a legislative proposal designed to lower fuel costs for consumers during periods of rapid price increases. Under this bill, the federal excise tax on gasoline, diesel, and certain alternative fuels would be reduced by 4.3 cents per gallon whenever the motor fuel price index rose by 10 percent or more in a single month. This temporary tax cut was intended to provide immediate financial relief at the pump for drivers and businesses facing sudden surges in energy costs.