The Gas Tax Relief Act aims to provide temporary financial relief to consumers by eliminating taxes on gasoline and diesel fuel for a designated period. The main objective is to help ease the financial burden on individuals and businesses facing high fuel prices. The key provisions of this act include a complete suspension of the federal tax on gasoline and diesel fuel starting from the date the law is enacted until a specified date, which is generally 90 days later. Additionally, if economic conditions warrant it, the President has the authority to extend this tax holiday for up to 215 days.