This legislative proposal introduces a temporary excise tax on crude oil, aiming to impose it on large producers and distribute the proceeds to individual taxpayers. The core mechanism involves a 100 percent tax on the portion of crude oil prices exceeding $75 per barrel, applicable to significant extractors and importers of crude oil in the United States. The tax applies to "covered taxpayers," defined as entities extracting or importing over 100,000 barrels of taxable crude oil daily in 2025 or any subsequent quarter. This measure is designed to remain active during periods of elevated oil prices linked to geopolitical instability, specifically until the President declares an end to hostilities with Iran, the Strait of Hormuz is fully reopened, and the price of West Texas Intermediate oil consistently drops below an inflation-adjusted $75 per barrel. All revenues collected from this windfall profits tax are to be deposited into a newly established Iran War Gasoline Price Relief Fund . From this fund, the Secretary of the Treasury will issue refundable "gasoline price rebates" to eligible individual taxpayers. The amount of these rebates will be determined quarterly, based on the total funds available and the number of eligible individuals, ensuring that the financial burden of high oil prices is offset for consumers. The bill mandates a robust outreach program by the Secretary to inform taxpayers of their eligibility and assist them in claiming these credits. This comprehensive approach seeks to mitigate the economic impact of high oil prices on American households during specific geopolitical and market conditions.