Gas Money Saved Act

This Act may be cited as the “Gas Money Saved Act”.

(a) Adjustment.—

(1) In general.— If the Administrator of the National Highway Traffic Safety Administration, using data published by the Bureau of Labor Statistics, determines that national average prices for gasoline have risen at least 5 times faster than overall inflation over the applicable period described in paragraph (2), the Administrator shall initiate a process to reevaluate whether the current corporate average fuel economy standards are achieving maximum feasible average fuel economy.

(2) Period described.— The applicable period referred to in paragraph (1) is—

(A) if corporate average fuel economy standards have not previously been adjusted under this subsection, any period of 180 days or longer beginning after the date of enactment of this Act; or

(B) if corporate average fuel economy standards have previously been adjusted under this subsection, any period of 180 days or longer beginning after the date of the most recent adjustment.

(b) Restoration of penalties.— Section 32912 of title 49, United States Code, is amended—

(1) in subsection (b), in the matter preceding paragraph (1), by striking “$0.00” and inserting “$25”; and

(2) in subsection (c)(1)(B), by striking “$0.00” and inserting “$50”.