To amend the Internal Revenue Code of 1986 to allow a deduction for flexible fuel vehicles.

Amends the Internal Revenue Code to allow a tax deduction for the cost of any qualified flexible fuel vehicle. Defines "qualified flexible fuel vehicle" as a motor vehicle that can use each of the following: (1) gasoline; (2) one or more fuels at least 85 percent of which is methanol, ethanol, any other alcohol, and/or ether; and (3) any combination of gasoline and one or more of such fuels. Terminates such deduction after 2010.