To amend the Internal Revenue Code of 1986 to temporarily suspend certain fuel excise taxes for fuel separated during periods in which the national average price of gasoline exceeds $3.99 per gallon, and to prohibit certain credits or deductions for oil and gas companies during such periods.

This bill temporarily suspends a portion of the federal fuel excise tax when the national average price of gasoline rises above $3.99 per gallon. Instead of reducing government revenue, the money saved from this tax cut is transferred back into the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. Additionally, the legislation disallows certain tax credits and deductions for oil and gas companies for costs incurred or production occurring during these high-price months. These changes would only take effect for taxable years beginning after December 31, 2025.