This legislation establishes a temporary suspension of federal taxes on gasoline and diesel fuel , commonly referred to as a "tax holiday." Specifically, it sets the federal tax rate under section 4081(a)(2)(A) of the Internal Revenue Code of 1986 to zero for taxable fuels removed, entered, or sold after the bill's enactment. Additionally, the Leaking Underground Storage Tank Trust Fund financing rate will not apply during this period, aiming to reduce fuel costs for consumers. To prevent financial disruption to critical infrastructure projects, the bill mandates that the Secretary of the Treasury transfer funds from the general fund to both the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund . These transfers will compensate for the revenue lost due to the tax suspension, ensuring the trust funds remain solvent. The tax holiday is initially set for 90 days, but the President has the discretion to extend it to 215 days based on economic conditions or to implement a phased restoration of the tax rates after 90 days.