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.

Referred to the House Committee on Ways and Means.

2026-04-30

When the national average gas price goes above $3.99 per gallon, the federal fuel tax would be temporarily suspended, lowering what drivers pay at the pump. During these same periods, oil and gas companies would be prohibited from claiming certain tax credits and deductions, offsetting some of the lost tax revenue. The measure aims to provide relief to consumers during periods of high gas prices while limiting tax breaks for energy companies.