A bill to amend the Internal Revenue Code of 1954 to raise the rate of interest on underpayment of Federal taxes from 6 to 8 percent and the rate of interest on extensions of time for payment of estate tax from 4 to 6 percent.

Raises the rate of interest on underpayment of Federal taxes from 6 to 8 percent and the rate of interest on extensions of time for payment of estate tax from 4 to 6 percent, under the Internal Revenue Code. (Amends 26 U.S.C. 6601)