S. 549, titled the "Maritime Fuel Tax Parity Act," aims to amend the Internal Revenue Code of 1986. This bill proposes to expand the current exemption from excise tax on alternative motorboat fuels to include certain vessels that operate between the Atlantic or Pacific ports...
Simple Explanation
The Maritime Fuel Tax Parity Act wants to change the rules so some boats that travel between different ports on the Atlantic or Pacific coasts wouldn't have to pay a special fuel tax, starting after 2025.