A bill to amend the Internal Revenue Code of 1986 to provide for the full deduction allowable with respect to income attributable to domestic production activities, and for other purposes.

Amends the Internal Revenue Code to eliminate the phasing in of the tax deduction for income attributable to domestic production activities and permit the full 9% deduction amount for taxable years beginning after 2008. Repeals the limitation on such tax deduction for oil-related production activities.