A bill to amend the Internal Revenue Code of 1954 to encourage the use of recycled oils.

Removes the manufacturer's excise tax, under the Internal Revenue Code, on recycled oils which are sold in the United States by the manufacturer or producer. (Amends 26 U.S.C. 4091)

Provides that no such tax shall be imposed upon hydraulic or cutting oils sold to a manufacturer or producer of such oils for resale by him.

Repeals the provision of the Internal Revenuse Code providing off-highway users of lubricating oils with a tax refund of 6 cents per gallon. (Amends 26 U.S.C. 4093)