Diesel Tax Parity Act of 2008

The Diesel Tax Parity Act of 2008 proposed a temporary reduction in the federal excise tax on diesel fuel to match the lower tax rate applied to gasoline. At the time of the bill's introduction, the federal tax on diesel was 24.3 cents per gallon, while the tax on gasoline was 18.4 cents per gallon.

If enacted, this legislation would have lowered the cost of diesel at the pump for truck drivers, farmers, and businesses for the remainder of 2008. To ensure that road construction and maintenance projects remained funded, the bill required the U.S. Treasury to reimburse the Highway Trust Fund for any lost tax revenue resulting from the price reduction.