Congress Passes Extension to Highway Bill

On March 29, both the House of Representatives and the Senate passed H.R. 4281, the “Surface Transportation Extension Act of 2012.” Thus, the bill is ready for the President's signature. Among other things, the bill provides for a short-term extension of various highway related excise tax provisions. For example, the bill would extend through June 30, 2012, excise taxes on: (1) fuel used by certain buses, (2) certain alcohol fuels, (3) gasoline (other than aviation gasoline) and diesel fuel or kerosene, (4) certain heavy trucks and trailers, and (5) tires. Without Congressional action, these taxes would have expired at the end of March.