A bill to amend the Internal Revenue Code of 1954 to reduce the Federal deficit and encourage fuel conservation by increasing the tax on gasoline.

Amends the Internal Revenue Code to impose an additional excise tax on gasoline of ten cents per gallon. Provides that such tax shall be in addition to the nine cent per gallon excise tax currently imposed on gasoline. Provides that revenues raised by such additional taxes shall not be transferred to the Highway Trust Fund or the Airport and Airway Trust Fund.