WASHINGTON – Americans getting pummeled at the gas pump may at least see some relief on their tax returns in the near future. A bill in Congress would increase the mileage reimbursement rate Americans could claim for business travel and charitable travel.
Congresswoman Kay Granger (R-Fort Worth) is co-sponsoring the Increase Mileage Reimbursement Rates for Americans Act, H.R. 6368. This bill, introduced by Rep. Kevin Brady (TX-08), improves upon the increases the IRS made to some of the mileage reimbursement rates this summer.
“As gasoline prices continue to climb, more needs to be done to provide relief at the pump,” said Granger. “I believe H.R. 6368 will provide needed and immediate relief for some of the people who need it most.”
Specifically, the Act would increase the mileage reimbursement rate for business or trade from 58.5 cents to 67.5 cents per mile. The charitable rate would increase from 14 cents to 27 cents per mile. The IRS had already increased the medical care and moving rates from 19 cents to 27 cents per mile. The Brady bill would maintain this increase.
In addition to the immediate increase in reimbursement rates, the Increase Mileage Reimbursement Rates for Americans Act would also allow the Treasury Department to make future adjustments to the charitable rate without waiting on Congress to act.