Imposes on lubricating, hydraulic, and cutting oils (other than recycled oils) a tax of 6 cents per gallon to be paid by the manufacturer or producer.
Authorizes the Secretary of the Treasury to issue regulations to exempt sales to producers of such oils for resale from the tax imposed by this Act. (Amends 26 U.S.C. 4091-4093)
Introduced in Senate
Referred to Senate Committee on Finance.
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