A bill to amend the Internal Revenue Code of 1954 to reduce the rates of the excise tax on telephone and teletypewriter exchange service for 1974 through 1976 and to eliminate such tax for periods after December 31, 1976.

Reduces the rates of the excise tax under the Internal Revenue Code of 1954 on telephone and teletypewriter exchange service for 1974 through 1976. Provides for the elimination of such tax for periods after December 31, 1976.