A bill to amend the Internal Revenue Code of 1954 to reduce the Federal deficit by increasing the tax on gasoline and other motor fuels during periods of lower crude oil prices.

Amends the Internal Revenue Code to impose an additional excise tax on gasoline, diesel fuel, and special motor fuels. Specifies that the rate of such additional tax shall be based on the amount by which the average international price of crude oil for a calendar quarter is less than $27. Provides that such tax shall be in addition to the present excise tax on gasoline, diesel fuel, and special motor fuels.

Specifies that revenues raised by such additional taxes shall not be transferred to the Highway Trust Fund or the Airport and Airway Trust Fund. Provides that certain exemptions to such excise taxes shall not apply to the additional taxes imposed by this Act.