A bill to repeal certain increases in highway taxes which were contained in the Highway Revenue Act of 1982, and for other purposes.

Amends the Highway Revenue Act of 1982 to repeal: (1) the 12 percent retail tax on heavy trucks and trailers; (2) the increase in the heavy truck highway use tax; and (3) the increase in the excise tax on heavy tires.

Amends the Internal Revenue Code to extend the 10 percent manufacturers excise tax on trucks until 1988. Sets the rate of tax on tires at 9.75 cents per pound in excess of 40 pounds.

Repeals the 1984 floor stocks tax on tires.