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United States · Bill · HR

H.R. 2198 (100th)

Energy Security Tax Act of 1987

referredUnited States· United States Congress· EN

Introduced

29 April 1987

Last action

1 May 1987 · Referred

Status

Referred to Subcommittee on Trade.

Sponsors

Rep. Andrews, Michael [D-TX-25], Rep. Bryant, John W. [D-TX-5], Rep. Bustamante, Albert G. [D-TX-23], Rep. Chapman, Jim [D-TX-1], Rep. Frost, Martin [D-TX-24], Rep. Leland, Mickey [D-TX-18], Rep. Pickle, J. J. [D-TX-10], Rep. Stenholm, Charles W. [D-TX-17], Rep. Watkins, Wes [R-OK-3], Rep. Huckaby, Thomas J. (Jerry) [D-LA-5], Rep. Roemer, Buddy [D-LA-4], Rep. Tauzin, W. J. (Billy) [R-LA-3], Rep. Anthony, Beryl, Jr. [D-AR-4], Rep. McCurdy, Dave [D-OK-4], Rep. Coleman, Ronald D. [D-TX-16], Rep. Brooks, Jack B. [D-TX-9], Rep. Wilson, Charles [D-TX-2], Rep. Hayes, James A. [D-LA-7], Rep. Boggs, Corinne C. (Lindy) [D-LA-2], Rep. English, Glenn [D-OK-6], Rep. Hall, Ralph M. [R-TX-4], Rep. Ortiz, Solomon P. [D-TX-27], Rep. de la Garza, E. [D-TX-15]

Subjects

Energy, Taxation

Source updated

28 August 2025

Energy · Taxation

Official sourceView documentsShare

Summary

Energy Security Tax Act of 1987 - Amends the Internal Revenue Code to impose an excise tax on the first sale within the United States of imports of: (1) crude oil; (2) refined petroleum products; and (3) petrochemical feedstocks or other derivatives. Sets the rate of such tax as the difference between $24 per barrel ($26.50 for petroleum and petrochemical products) and the most recently published average price of a barrel of internationally traded oil, as determined by the Secretary of the Treasury in accordance with a specified formula. Permits an income tax deduction for oil import tax payments. Repeals the windfall profit tax on domestic crude oil.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 29 April 1987

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 29 April 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 April 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 1 May 1987

    Referred

    Referred to Subcommittee on Trade.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

Related records

Sources

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