Emergency Fuel Tax Suspension Act

[AI summary unavailable — showing source text] Emergency Fuel Tax Suspension Act - Provides, under the Internal Revenue Code, for the suspension of excise taxes on diesel fuel and special motor fuels for 180 days. Encourages State and local governments to suspend a portion of diesel fuel taxes. Directs the President to specify a ceiling price for diesel fuel and special motor fuels at levels prevailing on January 15, 1974, less an amount per gallon equal to the amount by which excise taxes were suspended with respect to such products under the Emergency Fuel Tax Suspension Act. Provides that such ceiling price shall be in effect for the 180-day period beginning on the day following the date of the enactment of the Emergency Fuel Tax Suspension Act.…