To amend the Internal Revenue Code of 1986 to repeal the 4.3-cent increase in the transportation motor fuels excise tax rates enacted by the Omnibus Budget Reconciliation Act of 1993 and dedicated to the general fund of the Treasury.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to reduce by 4.3 cents per gallon the tax on gasoline, diesel and aviation fuel, fuel used by commercial waterway transportation vessels, special motor fuels, and methanol or ethanol fuels. Makes the reduction effective from seven days after enactment of this Act until January 1, 1997. Provides for the treatment of floor stocks. Expresses the sense of the Congress that consumers immediately receive the benefits. Requires the Comptroller General to study and report to specified congressional committees on whether there has been a passthrough to consumers. Amends the Department of Energy Organization Act to authorize appropriations to carry out the Act. Requires the Federal Communications Commission (FCC) to complete actions necessary to permit the competitive bidding of licenses for the use of described frequency bands. Prohibits the FCC from treating enactment of this Act as an expression of the intent of the Congress regarding the award of initial licenses of construction permits for Advanced Television Services.…