This bill would temporarily reduce federal fuel excise taxes when gasoline prices spike above $3.99 per gallon. Specifically, for each cent that the national average gasoline price exceeds $3.99, the federal excise tax on fuel would be reduced by one cent during that month. To offset the lost tax revenue that normally funds highway and environmental cleanup programs, the bill requires the Treasury to transfer money from the general fund to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund. At the same time, the bill prohibits oil and gas companies from claiming certain tax credits and deductions during these high-price periods, including deductions for intangible drilling costs and credits for enhanced oil recovery and marginal well production. The changes would take effect for tax years beginning after December 31, 2025.