[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 3863 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 3863

 To amend the Internal Revenue Code of 1986 to terminate the Hazardous 
                  Substance Superfund financing rate.


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                   IN THE SENATE OF THE UNITED STATES

                           February 12, 2026

 Mr. Barrasso (for himself, Mr. Lankford, Mrs. Blackburn, Mr. Cornyn, 
  Mr. Kennedy, Mr. Hoeven, Mr. Risch, Ms. Lummis, Mr. Cotton, and Mr. 
 Lee) introduced the following bill; which was read twice and referred 
                      to the Committee on Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to terminate the Hazardous 
                  Substance Superfund financing rate.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

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.
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