Taxpayers' Defense Act of 1998

Taxpayers' Defense Act of 1998 - Amends Federal law provisions concerning discretionary congressional review of agency rules to set forth provisions mandating that a rule that establishes or increases a tax, however denominated, shall not take effect before the enactment of a bill the text of which has been submitted to each House of the Congress by the agency promulgating the rule in a report that contains the bill's text and an explanation of the bill. Exempts a rule promulgated under the Internal Revenue Code.

Outlines introduction, referral, and consideration procedures for approval of the bill.

Applies the same requirements to certain Federal Communications Commission rules concerning universal service, except with respect to specified approval procedures.