A bill to amend the Internal Revenue Code of 1954 to provide tax relief for motor transport carriers.

States that in the case of any person regularly engaged in the commercial transportation of property by the use of highway motor vehicles, there shall be allowed a tax credit, under the Internal Revenue Code, for the taxable year in an amount equal to the total expenditures made by such person during the taxable year for price increases accruing after July 1, 1973, for gasoline, diesel fuel, and other fuel used for such transportation. Defines the term price increases.

Authorizes the Secretary of the Treasury to prescribe such regulations as may be necessary to carry out the provisions of this Act. Authorizes the Secretary to refund the tax credits established under this Act on a quarterly basis.