A bill to amend the Internal Revenue Code of 1954 to provide for the suspension of excise taxes on diesel fuel and special motor fuels, and to roll back the prices for such products.
Emergency Fuel Tax Suspension Act - Suspends the excise tax on diesel and special motor fuels during the 180-day period beginning on the day following the date of enactment of this Act.
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 this Act. States that such ceiling price shall be in effect for the 180-day period beginning on the day following the date of the enactment of this Act.
Referred to House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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