PRESENT TAX RATES MADE PERMANENT.

SEC. 501. PRESENT TAX RATES MADE PERMANENT. (a) Section 5001(a) (relating to imposition, rate, and attachment of tax on distilled spirits) is amended by striking out the last sentence of paragraph (1) and the last sentence of paragraph (3). (b) Section 5022 (relating to tax on cordials and liqueurs containing wine) is amended by striking out at the end of the first sentence “until July 1, 1965, and on or after July 1, 1965, at the rate of $1.60 per wine gallon and a proportionate tax at a like rate on all fractional parts of such wine gallon”. (c) Section 5041 (b) (relating to rates of tax on wine) is amended— (1) by striking out in paragraph (1) “, except that on and after July 1, 1965, the rate shall be 15 cents per wine gallon”: (2) by striking out in paragraph (2) “, except that on and after July 1, 1965, the rate shall be 60 cents a wine gallon”: (3) by striking out in paragraph (3) “, except that on and after July 1, 1965, the rate shall be $2.00 per wine gallon”; (4) by striking out in paragraph (4) except that on and after July 1, 1965, the rate shall be $3.00 per wine gallon”; and (5) by striking out in paragraph (5) “, except that on and after July 1, 1965, the rate shall be $2.00 per wine gallon”. (d) Section 5051(a) (relating to imposition and rate of tax on beer) is amended by striking out the second sentence. (e) Section 5063 (relating to floor stocks refunds on distilled spirits, wines, cordials, and beer) is hereby repealed and the table of sections for subpart E of part I of subchapter A of chapter 51 is amended by striking out the item relating to section 5063. (f) Paragraph (1) of section 5701(c) (relating to rate of tax on cigarettes) is amended by striking out “until July 1, 1965, and $3.50 per thousand on and after July 1, 1965”. (g) Section 5707 (relating to floor stocks refund on cigarettes) is hereby repealed and the table of sections for subchapter A of chapter 52 is amended by striking out the item relating to section 5707. (h) Section 497 of the Revenue Act of 1951 (relating to refunds on articles from foreign trade zones) is hereby repealed.