This bill aims to provide temporary relief from federal fuel excise taxes during periods of high gasoline prices. Specifically, when the national average price of gasoline surpasses $3.99 per gallon , the excise tax would be reduced by one cent for every cent the price exceeds this benchmark. To ensure the continued funding of infrastructure projects, the bill mandates transfers from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund to offset any revenue lost due to this tax suspension, with these changes applying to taxable years beginning after December 31, 2025. In conjunction with the fuel tax suspension, the legislation also seeks to adjust tax benefits for the oil and gas industry during these high-price periods. It would disallow certain tax credits and deductions for oil and gas companies when the national average gasoline price exceeds $3.99 per gallon. This includes prohibiting deductions for intangible drilling costs and disallowing the enhanced oil recovery credit and the marginal well credit during such times, thereby linking industry tax benefits to consumer fuel costs.