Summary

Suspends the federal gasoline excise tax and the LUST (Leaking Underground Storage Tank) financing rate for gasoline sold or removed from enactment through September 30, 2026, and requires the Treasury to transfer from the general fund amounts equal to the lost receipts to the Highway Trust Fund and the LUST Trust Fund. The bill directs fuel producers and dealers to reduce retail prices to reflect the tax cut, authorizes monetary penalties at least equal to any unpassed-through tax reduction for sellers who fail to lower prices, and directs the Treasury to use its authorities to ensure consumers receive the benefit.

• Temporarily sets the federal gasoline excise tax and the LUST financing rate to zero for sales between enactment and October 1, 2026.
• Requires Treasury to transfer from the general fund to the Highway Trust Fund and LUST Trust Fund amounts equal to the lost excise receipts.
• Directs fuel producers and dealers to lower retail gasoline prices to reflect the suspended taxes.
• Authorizes monetary penalties at least equal to the unpassed-through tax reduction for sellers who fail to pass savings to consumers.
• States a congressional policy that tax reductions should be passed to consumers and directs Treasury to use authorities to ensure compliance.
• Shifts the fiscal cost of reduced excise receipts to the federal general fund while maintaining trust fund receipts via transfers.
• Applies only to gasoline removed, entered, or sold during the temporary suspension period.
• Creates administrative tasks for Treasury to calculate transfers and enforce pass-through and penalties.
• Consumer savings depend on whether producers and dealers actually reduce retail prices as directed.