A bill to provide a 2 cents a gallon tax reduction on gasoline tax reduction on gasoline sold for use in highway vehicles where the gasoline contains cereal grain alcohol as a substitute for lead.

Provides, under the Internal Revenue Code, that if gasoline which contains cereal grain alcohol and which contains no lead is sold by a dealer or other person to an ultimate purchaser for use as a fuel in a highway vehicle, the Secretary of the Treasury or his delegate shall pay to the dealer or other person making the sale an amount equal to 2 cents a gallon for each gallon of gasoline sold. States that no payment shall be made under this Act unless such tax reduction is passed on to the consumer. (Adds 26 U.S.C. 6428)