The purpose of this legislation is to eliminate a specific tax known as the Hazardous Substance Superfund financing rate, which is part of the Internal Revenue Code. This tax is intended to fund the cleanup of hazardous waste sites across the United States. The main objective of the bill, titled the "Pay Less at the Pump Act of 2026," is to reduce costs for consumers, particularly in relation to fuel prices. The key provisions of the bill include the termination of the Hazardous Substance Superfund financing rate effective January 1, 2026.