REPEAL OF RETAILERS EXCISE TAXES.

SEC. 101. REPEAL OF RETAILERS EXCISE TAXES. (a) In General.— Subchapters A (relating to jewelry and related items), B (relating to furs), C (relating to toilet preparations), and D (relating to luggage, handbags, etc.) of chapter 31 are repealed. (b) Technical and Conforming Amendments.— (1) The table of subchapters for chapter 31 is amended by striking out the items relating to subchapters A, B, C, and D. (2) Sections 4051 through 4053 are repealed and the table of sections for subchapter F of chapter 31 is amended by striking out the items relating to sections 4051, 4052, and 4053. (3) Section 4055 is amended by striking out in the case of the tax imposed by section 4041,”. (4) Section 4057(a) is amended by striking out “, in the case of a tax imposed by section 4041,”. (5) Section 4224 (relating to exemption for articles taxable as jewelry) is repealed and the table of sections for subchapter G of chapter 32 is amended by striking out the item relating to section 4224. (6) Section 6011(c) (relating to return of retailers excise taxes by suppliers) is repealed.