United States · United States Congress · 28 July 1987
Expresses support for the efforts of the United States Soccer Federation to bring the World Cup to the United States in 1994. Designates the Secretary of Commerce as the official U.S. representative in any discussions with the Federation Internationale de Football Association.
United States · United States Congress · 21 July 1987
Amends the Internal Revenue Code to permit a partnership, S corporation, or personal service corporation, unless it is part of a tiered structure, to elect to have a taxable year other than the required one, but generally only if the deferral period of the taxable year elected is three months or less. (Current law requires partnerships, S corporations, and personal service corporations, in most cases, to conform their taxable years to the calendar years used by their owners.) Subjects the principals of a partnership or S corporation electing to change taxable years to additional estimated tax requirements to offset any tax deferral resulting from such election. Imposes deduction limitations on a personal service corporation that changes taxable years. Provides that an election with respect to taxable year shall be made by the partnership, S corporation, or personal service corporation and shall be binding on all partners and shareholders. Sets forth the formula for determining the additional tax requirement when a taxpayer: (1) is a partner or shareholder in at least one such entity during any applicable election years of the entity that end within the taxpayer's taxable year; and (2) has an aggregate deferred tax exceeding $200 with respect to the entity. Describes payment procedures. Requires the inclusion of specified information on returns filed by partnerships and S corporations that elect to use a non-required taxable year. Limits the tax deduction permitted to a personal service corporation for amounts paid or incurred with respect to employee-owners when such a corporation: (1) elects to have a taxable year other than the required one; and (2) fails to meet certain minimum distribution requirements regarding non-dividend amounts paid to owners.
United States · United States Congress · 21 July 1987
Designates October 15, 1987, as National Safety Belt Use Day. Authorizes and requests the President to issue a proclamation calling on the people to wear safety belts and have their children use child safety seats, and encouraging public safety and law enforcement agencies to promote these devices.
United States · United States Congress · 15 July 1987
Title I: Temporary Extension of Public Debt Limit - Increases the public debt limit (until September 30, 1987) to $2,358,000,000,000. Title II: Budget Process Reform - Amends the Congressional Budget and Impoundment Control Act of 1974 to increase the permissible maximum deficit amounts for FY 1987 through 1990. Extends for one year the expiration date of the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act). Title III: Economic Summit - Expresses the sense of the Congress that the President, together with the bipartisan leadership of the Senate and House of Representatives, should convene a domestic economic summit conference to address the dangerous economic situation which is created by large deficits and the ineffectual budget process. Directs the conference to report its recommendations for solutions to budgetary issues and budget process reforms to the Congress and the President.
United States · United States Congress · 15 July 1987
Expresses the sense of the House of Representatives that the Federal excise taxes on gasoline and diesel fuel should not be increased as a means of reducing the Federal deficit.
United States · United States Congress · 9 July 1987
Amends the Commodity Credit Corporation Charter Act to direct the Commodity Credit Corporation to pay interest to qualified persons on payments due them and made after the required payment date.
United States · United States Congress · 9 July 1987
Urges the administration to continue to reject efforts by Canadian negotiators to: (1) have the U.S. cabotage trades, including the transport of energy resources, opened to Canadian vessels; and (2) eliminate the ad valorem duty on vessel repairs performed in Canadian shipyards.
United States · United States Congress · 26 June 1987
Allied Commission on Out-of-Area Issues Act - Sets forth the purpose of this Act as providing a framework for the establishment of a commission on out-of-area issues (Commission) and encouraging the President to seek the establishment of such a Commission. States that such a Commission would include participants from among the group of militarily allied Western nations and would be regarded by the United States as a principal institution for consideration of allied perspective and policy options with respect to out-of-area issues. Expresses the sense of the Congress that the Commission should: (1) promote a better understanding of how Western nations might respond to out-of-area events and issues without formally engaging NATO and other security alliances; (2) specifically define potential out-of-area contingencies which might threaten the West; (3) better relate, for planning purposes, the out-of-area security concerns of Japan and America's other Asian allies with those of NATO; (4) explore the possibility of better coordinating the foreign and military aid programs of the Western allies as a means of promoting growth and stability in less developed countries; and (5) promote better coordination among Commission participants in the other multinational organizations to which they belong. Authorizes the President to invite the member states of NATO and Japan to participate with the United States in a commission on out-of-area issues and to also invite member states of the Security Treaty between Australia, New Zealand, and the United States (ANZUS), the Southeast Asia Treaty Organization (SEATO) and other appropriate countries to participate in the Commission. Expresses the sense of the Congress that such a Commission should: (1) be established within an already existing, nonsecurity-oriented, multinational framework; (2) be composed of nationally appointed delegates of demonstrated ability appointed by national executive branches of government; (3) convene at least twice yearly for the purpose of assessing works in progress and establishing future agendas; and (4) compile and dissemination task force reports, findings, and policy memoranda as well as an annual report. Requires the President to submit a report to the Congress on progress toward implementation of this Act.
United States · United States Congress · 25 June 1987
Hazardous Waste Reduction Act - Requires filings of the annual toxic chemical release forms required under the Superfund Amendments and Reauthorization Act of 1986 to include a toxic chemical waste reduction and recycling report for each listed toxic chemical for the preceding calendar year. Requires such report to include information on a facility-by-facility basis as to the amounts and disposition of each toxic chemical, including levels of waste reduction and recycling achieved and expected. Requires that toxic chemical waste reduction practices be delineated according to set categories, such as equipment, redesign, and substitution of raw materials. Requires the inclusion of a production index for each toxic chemical waste and a list of techniques used to identify waste reduction opportunities. Provides protection for trade secrets. Directs the Administrator of the Environmental Protection Agency (EPA) to establish a central receiving facility at EPA for the storage and retrieval of waste management program information. Requires the Administrator to collect, coordinate, and consolidate data collection requirements under environmental statutes. Requires all such information to be compiled into a data base organized on an industry-by-industry basis according to Standard Industrial Classifications and on a waste stream basis. Directs the Administrator to establish a Waste Reduction and Recycling Clearinghouse Program to include information on approaches to waste reduction and recycling and information from States receiving grants for technical assistance programs. Requires the Clearinghouse to be actively involved in technology transfer and the development of waste reduction technologies. Requires the Administrator to make matching grants to States for innovative waste reduction programs. Requires such programs to make specific and targeted technical assistance available to businesses as well as for funding experts and research and providing training. Directs the Administrator to report annually to the Congress on the waste reduction information gathered pursuant to this Act. Requires such report to include a profile of waste reduction levels on an industry-by-industry basis and identify priorities as to industries, pollutants, and research. Establishes the Office of Waste Reduction within EPA to collect waste reduction plans and information from other EPA offices on an industry-by-industry basis, administer the clearinghouse and State grants programs, and carry out other related responsibilities including improving EPA's ability to evaluate multi-media waste management practices and the potential for waste reduction through information collection and retrieval. Authorizes appropriations.
United States · United States Congress · 25 June 1987
Authorizes the Administrator of Veterans Affairs to establish a national cemetery in the central geographical area of Louisiana. Authorizes the Administrator to acquire such land as necessary for the cemetery.
United States · United States Congress · 24 June 1987
Declares that the Congress joins with the President in challenging Soviet General Secretary Gorbachev to open the Brandenburg Gate and tear down the Berlin Wall.
United States · United States Congress · 17 June 1987
Major Disaster Relief and Emergency Assistance Amendments of 1987 - Amends the Disaster Relief Act of 1974 to make eligible for assistance for the repair, restoration, reconstruction, and replacement of damaged facilities special purpose local governments such as levee districts, irrigation districts, and reclamation districts. Declares that the Federal share of such assistance shall not be less than 75 percent (currently, such assistance can not exceed 100 percent). Requires the President to issue rules which provide for the recognition of differences existing among urban, suburban, and rural lands to facilitate adequate removal of debris and wreckage from large lots. Declares the Federal share of assistance for debris removal to be 75 percent. Provides for temporary housing assistance for up to 18 months after the date of a major disaster. Authorizes the President to extend such period for an additional 18 months due to extraordinary circumstances. Declares the Federal share of such assistance to be 100 percent of eligible costs. Provides that temporary housing assistance may not be used for reconstruction or rehabilitation of damaged property when the cost of such assistance exceeds the cost of other applicable types of housing. Sets forth notification requirements for the President when persons apply for temporary housing assistance, including: (1) all forms of assistance available; (2) criteria that must be met to qualify for each type of assistance; (3) limitations which apply to each type of assistance; and (4) the address and telephone number of offices responsible for assisting applicants. Requires that housing assistance account for the applicant's location of and travel time to: (1) the applicant's place of business; (2) schools which family members may attend; (3) any home or place of business whose destruction or damage is the result of the major disaster which created the need for assistance; and (4) crops or livestock the applicant tends which provide 25 percent or more of the applicant's annual income. Includes in the individual and family grant program an authorization for the President to make grants to States for land use and construction projects designed to mitigate future major disaster-related loss. Authorizes a State to expend up to ten percent (currently, three percent) of any such grant for administrative expenses. Increases the limitation on such grants for families and individuals from $5,000 to $10,000. Repeals the restriction that crisis counseling be provided only through the National Institute of Mental Health. Removes the authority of the President to make grants to States for the removal of damaged timber from private lands. Provides that appeals arising from assistance decisions must be acted upon within 60 days of the receipt of such appeal. Declares that eligibility for Federal disaster assistance begins on the date: (1) of the occurrence of the disaster; or (2) on which eligible costs are incurred, whichever is earlier. Declares that disaster assistance shall not be restricted to limit assistance to a particular geographic area. Sets forth procedures for State governors to request declarations by the President that a major disaster exists. Requires such request to be based on a finding that effective response to such disaster is beyond the capabilities of the State and local governments and that Federal assistance is necessary. Describes general and essential assistance that the President may provide. Authorizes the President to contribute up to 50 percent of the cost of hazard mitigation measures. Establishes an emergency assistance program. Sets forth procedures for State governors to request the President to declare an emergency. Describes general Federal assistance under such an emergency. Limits the amount of emergency assistance to $5,000,000, which may be exceeded if the President finds it necessary. Requires the President to report to the Congress on the nature and extent of an emergency when such limitation is exceeded. Requires public and private nonprofit facilities in flood hazard areas to maintain flood insurance. Declares that major disaster and emergency assistance shall not be considered income or a resource when determining benefit levels for Federal programs. Requires the President to establish comprehensive standards to be used to assess the efficiency and effectiveness of Federal emergency and major disaster response programs administered by the Federal Emergency Management Agency. Authorizes the Federal Government to recover the cost of assistance from any person whose negligent act or omission, or whose act or omission while engaged in ultra-hazardous activity, resulted in an emergency or major disaster. Directs the President to conduct audits and investigations necessary to ensure compliance with this Act. Revises provisions relating to criminal and civil penalties. Increases from $25,000 to $50,000 the maximum amount of grants to States for improvement, maintenance, and updating of State plans. Renames the Disaster Relief Act of 1974 the Major Disaster Relief and Emergency Assistance Act.
United States · United States Congress · 17 June 1987
Amends the Natural Gas Policy Act of 1978 to repeal the requirement that first sale contracts for the purchase of certain natural gas produced on the Outer Continental Shelf must be for a specified duration. Repeals the statutory restrictions placed upon: (1) natural gas offers of sale; and (2) rights of first refusal.
United States · United States Congress · 17 June 1987
Constitutional Amendment - Requires the Congress and the President, prior to each fiscal year, to agree, by enactment of a joint resolution, on an estimate of total receipts for that fiscal year. Prohibits outlays for that year from exceeding such estimated receipts unless the Congress, by a three-fifths rollcall vote of each House, provides for a specific excess of outlays over receipts. Requires the Congress, whenever actual outlays exceed actual receipts for any fiscal year, to provide by law for the repayment of such excess in the ensuing fiscal year. Requires a three-fifths rollcall vote of each House to increase the public debt. Directs the President to submit to the Congress a proposed budget for each fiscal year in which total outlays do not exceed total receipts. Requires the approval by a majority of the total membership of each House by rollcall vote before any bill to increase revenue may become law. Waives this article for any fiscal year in which a declaration of war is in effect. Declares that total receipts shall include all receipts of the United States, except those derived from borrowing, and total outlays shall include all outlays of the United States, except those for repayment of debt principal.
United States · United States Congress · 16 June 1987
Prohibits the importation or withdrawal from warehouse for consumption of any goods produced by the Toshiba Corporation or the Kongsberg Vaapenfabrik Company of Norway for five years.
United States · United States Congress · 16 June 1987
White House Conference on Small Business Authorization Act - Calls upon the President to conduct a National White House Conference on Small Business once every four years to: (1) increase public awareness of the contributions of small business; (2) identify small business problems; (3) examine the status of minority and women small business owners; (4) assist small business in carrying out its role as the Nation's job creator; (5) develop specific recommendations for executive and legislative action; and (6) review the status of recommendations adopted at the preceding Conference. Authorizes and directs Federal departments, agencies, and instrumentalities to provide support and assistance to the planning of such Conferences. Requires a final report of each Conference, within six months from the date a Conference is convened, to be submitted to the President and the Congress. Requires the Small Business Administration to report annually to the Congress for the next three years following the submission of the final report of the Conference. Authorizes appropriations.
United States · United States Congress · 11 June 1987
National Petroleum Security Act of 1987 - Title I: Financial Incentives to Stimulate Oil and Gas Production - Amends the Internal Revenue Code to repeal the windfall profit tax on domestic crude oil. Allows a crude oil production tax credit for maintaining economically marginal wells. Allows as a tax deduction geological and geophysical costs paid or incurred during the taxable year. Repeals special rules for deduction of intangible drilling costs and mineral exploration and development costs. Increases the net income depletion limitations for oil or gas wells to 100 percent. Repeals certain depletion transfer rules. Title II: Federal Leasing Reform Provisions - Amends the Mineral Lands Leasing Act of 1920 to direct the Secretary of the Interior to implement a competitive oil and gas leasing program on the public lands of the Coastal Plain (in Alaska) in order to assure expeditious exploration, development, and production of the area's oil and gas resources. Delineates the elements of the Coastal Plain leasing program. Mandates deposit of the receipts from such leasing program in the Treasury. Requires that activities be conducted to achieve the reasonable protection of wildlife resources, the environment, and subsistence users. Authorizes the Secretary of State to initiate discussions with the Canadian Government regarding mutual planning for the development and transportation of crude oil and natural gas resources in the Arctic region under the respective jurisdiction of each country, both onshore and offshore. Title III: Oil Regulatory Reform Provisions - Amends the Energy Policy and Conservation Act to direct the Secretary of Energy to assure that at least 50 percent (by volume) of the petroleum products acquired for storage in the Strategic Petroleum Reserve during each fiscal year are derived from domestic crude oil production (other than production of Federal lands). Amends the Department of Energy Organization Act to authorize the Attorney General to petition the Secretary of Energy for an adjudication of whether continued regulation of an existing pipeline is in the public interest. Directs the Secretary, upon receipt of such petition, to conduct such adjudication according to prescribed guidelines. Terminates Federal Energy Regulatory Commission jurisdiction over an existing pipeline that is not the subject of such a petition 120 days after the effective date of this Act, unless a joint resolution is enacted before then directing the Secretary to conduct an adjudication of whether regulation of such pipeline is in the public interest. Prescribes adjudication guidelines under which the Secretary shall find that regulation of a pipeline is in the public interest only if it is demonstrated that such regulation is necessary to constrain the exercise of substantial market power in a significant portion of the markets in which the pipeline operates. Terminates Commission regulatory jurisdiction over an existing pipeline if the Secretary finds the regulation over such pipeline is not in the public interest. Prescribes guidelines under which the Secretary is authorized to conduct an adjudication of whether, as a direct result of changed circumstances, regulation of an existing pipeline not then subject to Commission regulatory jurisdiction is in the public interest. Declares that new pipelines shall not be subject to Commission regulatory jurisdiction. States that the termination of Commission regulatory jurisdiction does not apply to its jurisdiction over crude oil or refined oil products transported prior to termination. Precludes Commission regulatory jurisdiction from being transferred in any manner to any Federal agency. Declares that the pipeline jurisdiction provisions of this Act do not apply to the Trans-Alaska pipeline. Confers exclusive, original jurisdiction over any petition for judicial review upon the U.S. Court of Appeals for the District of Columbia Circuit. Precludes from such judicial review any action of the Attorney General under this Act, including adjudication petitions. Authorizes both the Secretary and the Attorney General to promulgate regulations under this Act. Retains the applicability of all antitrust laws to pipeline transportation of crude oil or refined oil products. Title IV: Natural Gas Regulatory Reform Provisions - Amends the Natural Gas Policy Act of 1978 to authorize the Federal Energy Regulatory Commission to: (1) allow any pipeline to transport natural gas on behalf of any person; (2) require pipelines to transport gas without discrimination; and (3) require pipelines which receive gas to provide nondiscriminatory transportation services. Requires the Commission (upon request by any person) to direct an interstate pipeline to provide transportation service, without discrimination, unless such pipeline demonstrates to the Commission that it is incapable of providing such service. Removes wellhead price controls over all natural gas first sales beginning April 1, 1988. Removes such control for certain gas sales contracts executed after the date of enactment of this Act. Repeals Commission jurisdiction over first sales of natural gas committed or dedicated as of the day before enactment of this Act. Repeals Commission authority to specify the minimum duration of certain natural gas contracts (thus removing all non-price regulation of first sales of natural gas). Declares that, with respect to ceiling prices of certain natural gas sales, the last price paid for such gas shall be considered a federally established rate for purposes of an area rate clause. Provides a limited antitrust exemption for independent natural gas producer cooperatives. Title V: Environmental Provisions - Amends the Solid Waste Disposal Act to exclude from the definition of "underground storage tank" all well cellars, sumps, drip collection devices, and specified equipment used in petroleum marketing operations. Expresses the sense of the Congress that certain rules regarding mixtures and derivatives should not be invoked to curtail certain petroleum industry recycling practices. Expresses the sense of the Congress that the Administrator of the Environmental Protection Agency should encourage continued use of land treatment for petroleum waste, and that such treatment should be considered as complying with the Solid Waste Disposal Act. Amends the Safe Drinking Water Act to modify the underground injection control program with respect to the utilization of brine or other fluids.
United States · United States Congress · 11 June 1987
Designates the two week period of July 13 through July 26, 1987, as United States Olympic Festival-1987 Celebration. Designates July 17, 1987, as United States Olympic Festival-1987 Day.
United States · United States Congress · 10 June 1987
Amends the Internal Revenue Code to extend through 1992 the period during which qualified mortgage bonds may be issued. (Under current law, authority to issue these bonds expires as of 1989.)
United States · United States Congress · 10 June 1987
Repeals specified provisions of the Tax Reform Act of 1986 that restrict the types of scholarships and fellowship grants that may be excluded from gross income for income tax purposes. States that the Internal Revenue Code of 1986 (IRC) shall be applied and administered as if such provisions had not been enacted. Amends the IRC to allow an income tax deduction for interest on a qualified educational loan incurred to pay the educational expenses of the taxpayer, spouse, or dependent. Eliminates the current requirement that such indebtedness be secured by an interest in real property.
United States · United States Congress · 10 June 1987
Authorizes the Librarian of Congress to make grants to the Close Up Foundation to help carry out the Speaker's Civic Achievement Awards Program to recognize achievement in civic literacy by students, classes, and schools in grades five through eight. Provides that the program shall be conducted in cooperation with the National Association of Elementary School Principals. Establishes a National Advisory Committee on the Speaker's Civic Achievement Awards within the Library of Congress to advise the Librarian on the structure and administration of the programs. Sets forth audit requirements for grant applications, payments, and audits. Authorizes appropriations for FY 1988 through 1993.
United States · United States Congress · 3 June 1987
Retirement and Survivor Annuities for Bankruptcy Judges and Magistrates Act of 1987 - Establishes a new retirement system for bankruptcy judges and magistrates with 14 or more years of service, or at least eight years of service, upon attaining age 65. Entitles a bankruptcy judge or magistrate who has served at least five years to disability retirement. Provides for cost-of-living adjustments in such retirement system. Requires each bankruptcy judge or magistrate who elects an annuity under this Act to notify the Director of the Administrative Office of the United States Courts. Declares that such judge or magistrate shall not be entitled to an annuity under the civil service systems. Declares this Act applicable to service on or after October 1, 1979. Establishes transition provisions for incumbent judges and magistrates. Provides survivors' annuities for bankruptcy judges, magistrates, and incumbents. Authorizes the recall of retired bankruptcy judges and magistrates into service.
United States · United States Congress · 3 June 1987
Expresses the determination of the Congress that the Palestine Liberation Organization (PLO): (1) is a terrorist organization; (2) is a threat to the interests of the United States, its allies, and to international law; and (3) should not benefit from operating in the United States. Prohibits, if the purpose is to further the interests of the PLO: (1) the receipt of anything of value except informational material from the PLO; (2) the expenditure of funds from the PLO; or (3) the establishment or maintenance of a PLO office within the jurisdiction of the United States. Provides that the provisions of this Act shall cease to have effect if the President certifies to the Congress that the PLO no longer practices or supports terrorist actions.
United States · United States Congress · 3 June 1987
Provides, with respect to any reduction in force in the Federal Grain Inspection Service, for the creditability of certain inspection services performed by inspection personnel before being hired by the Administrator of such Service without regard to laws governing appointments to the competitive service.
United States · United States Congress · 21 May 1987
Designates May 25, 1987, as National Day of Mourning for the victims of the U.S.S. Stark, in honor of the crew of the Navy frigate struck by Iraqi missiles in the Persian Gulf.
United States · United States Congress · 20 May 1987
Directs the Secretary of Agriculture to study and report on the effectiveness of current laws, regulations, and licensing standards for commercial breeders of dogs and puppies in protecting such animals raised for sale in retail pet stores from inhumane treatment.
United States · United States Congress · 18 May 1987
Designates August 1, 1987, as Helsinki Human Rights Day. Requests the President to: (1) reassert American commitment to the Helsinki Accords; (2) raise the issue of noncompliance with such Accords with the Soviet Union, Bulgaria, Czechoslovakia, the German Democratic Republic, Hungary, Poland, and Romania; (3) convey to all signatories of such Accords that respect for human rights and fundamental freedoms is vital to progress in the ongoing Helsinki process; (4) convey to U.S. allies the necessity of unity regarding such Accords; (5) continue his efforts to achieve the release of political prisoners of the Soviet Union, increase in Soviet emigration, resolution of family reunification cases, and cessation of radio transmission jamming; (6) seek the inclusion, in any concluding document agreed to in Vienna, of a mechanism to sustain human rights progress after the Vienna Conference on Security and Cooperation in Europe; and (7) convey to signatory states the desire of the United States for a result at Vienna that will not favor military security at the expense of human rights.
United States · United States Congress · 30 April 1987
Provides for the appointment of a delegation of Members of Congress to participate in ceremonies to be held in New York City in April 1989 commemorating the 200th anniversaries of: (1) the implementation of the Constitution as the form of government of the United States; (2) the inauguration of George Washington as the first President; and (3) the proposal of the Bill of Rights as the first ten amendments to the Constitution. Invites the President to join the delegation in participating in the ceremonies.
United States · United States Congress · 29 April 1987
Energy Independence Act of 1987 - Amends the Energy Policy and Conservation Act to direct the Secretary of Energy (Secretary), for the purpose of obtaining petroleum products for the Strategic Petroleum Reserve (SPR) and to the extent that amounts are credited to the SPR Petroleum Account (Account), to purchase either U.S. stripper well oil or crude oil exchanged for U.S. stripper well oil. Requires that such purchases be made on a competitive bid basis, subject to a minimum price of $25 per barrel, adjusted annually for inflation. Makes available to the Secretary, for SPR development, in any quarter at the beginning of which there is the equivalent of less than 1,000,000,000 barrels of crude oil in the SPR, funds from the Account in an amount equal to 25 percent of the aggregate amount of revenue collected during the previous quarter from the excise tax imposed by this Act on imported crude oil and petroleum products. Limits the use of such funds for SPR petroleum acquisition to periods when: (1) the SPR contains less than 1,000,000,000 barrels of crude oil; and (2) the world price of crude oil is $25 or less per barrel, adjusted for inflation. Provides for alternative energy security uses of such tax revenue when the world oil price exceeds the reference price of $25 for a specified time. Directs the President, to the maximum extent practicable, to take the steps necessary to: (1) enter into international voluntary agreements in connection with the international energy program (IEP) in the interest of developing parity with respect to oil import fees; and (2) enforce certain existing agreements with other IEP countries. Amends the Internal Revenue Code to impose, until 1993, an excise tax on the first sale within the United States of imported crude oil and petroleum products. Sets a variable rate for such tax, as follows: (1) for crude oil, the greater of 50 cents per barrel or the difference between the world price per barrel of crude oil and $25 (the reference price, to be adjusted annually for inflation); and (2) for petroleum products, in accordance with a specified formula based on the amount of tax per barrel of crude oil, the barrel-of-oil equivalent of the particular product attributable to crude oil, and a three dollar per barrel environmental outlay adjustment. Places liability for the payment of such tax on the first person selling the imported oil or petroleum product within the United States. Requires such person to register with the Secretary of the Treasury before incurring liability. Exempts from the import tax: (1) any sale of crude oil or petroleum product destined for export, upon proof that it has been exported within six months of the first sale within the United States; and (2) the sale or use of any petroleum product during any period when the President determines that it is in the national interest to refrain from such taxation. Applies to the import tax the same procedures and penalties that currently govern the windfall profit tax. Permits the imported oil tax payments as an income tax deduction.
United States · United States Congress · 23 April 1987
Amends the Federal Food, Drug, and Cosmetic Act to require foods to include on their labeling the presence and amount of any palm, palm kernel, or coconut oil along with a statement that such oil(s) is a saturated fat.
![Official portrait of Rep. Livingston, Bob [R-LA-1]](https://www.congress.gov/img/member/l000371_200.jpg)