H.R. 6368

To amend the Internal Revenue Code of 1986 to provide for an increase in the standard mileage rates to reflect the increase in the cost of highway fuels, and for other purposes.

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I

110th CONGRESS

2d Session

H. R. 6368

IN THE HOUSE OF REPRESENTATIVES

June 25, 2008

Mr. Brady of Texas (for himself, Mr. Sam Johnson of Texas, Mr. Porter, Mr. Herger, Mr. Putnam, Mr. Boehner, and Mr. David Davis of Tennessee) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide for an increase in the standard mileage rates to reflect the increase in the cost of highway fuels, and for other purposes.

1.

Increase in passenger automobile mileage rates

(a)

Charitable mileage rate same as medical and moving rate

(1)

In general

Subsection (i) of section 170 of the Internal Revenue Code of 1986 (relating to standard mileage rate for use of passenger automobile) is amended by striking 14 cents per mile and inserting the rate determined for purposes of sections 213 and 217.

(2)

Effective date

The amendment made by paragraph (1) shall apply to miles driven on or after the date of the enactment of this Act.

(b)

Increase in mileage rates

For any portion of the period beginning on the date of the enactment of this Act and ending on December 31, 2008, the standard mileage rate under each of sections 162, 213, and 217 of the Internal Revenue Code of 1986 for operating a passenger automobile shall be not less than the greater of—

(1)

133.7 percent of the rate in effect under each such section on January 1, 2008, or

(2)

the rate prescribed by the Internal Revenue Service for each such section.