A bill to amend the Internal Revenue Code of 1954 to provide for the suspension of excise taxes on disel fuel and special motor fuels, and to roll back the prices for such products.
Emergency Fuel Tax Suspension Act - Provides, under the Internal Revenue Code, for the suspension of excise taxes on diesel fuel and special motor fuels for 180 days.
Encourages State and local governments to suspend a portion of diesel fuel taxes.
Directs the President to specify a ceiling price for diesel fuel and special motor fuels at levels prevailing on January 15, 1974, less an amount per gallon equal to the amount by which excise taxes were suspended with respect to such products under the Emergency Fuel Tax Suspension Act. Provides that such ceiling price shall be in effect for the 180-day period beginning on the day following the date of the enactment of the Emergency Fuel Tax Suspension Act.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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