This bill proposes to significantly increase the excise tax on corporate stock repurchases for certain large oil and gas companies. It amends the Internal Revenue Code of 1986 to raise the existing 1 percent excise tax to 25 percent for these specific corporations. An "applicable corporation" subject to this higher tax is defined as one with average annual gross receipts exceeding $1,000,000,000 over the preceding three taxable years. Additionally, the corporation must be primarily engaged in one or more oil or natural gas trades or businesses, including production, refining, processing, transportation, or distribution. The increased tax rate will apply to stock repurchases made after the bill's enactment. However, this provision will cease to apply once the weekly retail price of regular gasoline, as determined by the Energy Information Administration, falls below $2.937 per gallon for five consecutive weeks.