Gas Price Relief Act of 2005

Summary

Gas Price Relief Act of 2005 - Amends the Internal Revenue Code to impose an excise tax, for a one-year period, on oil companies for a percentage of the windfall profit from all barrels of taxable crude oil; (2) allow a tax deduction for the payment of any windfall profit tax; (3) reduce by 10 percent the excise tax on highway motor fuels for a period of one year after the enactment of this Act; (4) provide for transfers of windfall profit tax receipts and amounts from the general fund to the Highway Trust Fund; and (5) make adjustments to highway motor fuel taxes for floor stocks of such fuels held by dealers prior to, or after, the effective date of reduction in such taxes under this Act. Defines "windfall profit" as the excess of the removal (sales) price of a barrel of taxable crude oil over the base price ($40 per barrel) of such barrel.

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Timeline

1. 13 September 2005

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 13 September 2005

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 September 2005

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 13 September 2005 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 13 September 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 13 September 2005

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 13 September 2005

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Menendez, Robert [D-NJ] · D · Sponsor
• Rep. Case, Ed [D-HI-1] · D · Cosponsor
• Rep. McCarthy, Carolyn [D-NY-4] · D · Cosponsor
• Rep. Owens, Major R. [D-NY-11] · D · Cosponsor
• Rep. Clay, Wm. Lacy [D-MO-1] · D · Cosponsor
• Rep. Thompson, Bennie G. [D-MS-2] · D · Cosponsor
• Sen. Brown, Sherrod [D-OH] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Gas Price Spike Act of 2005
• related to → Gasoline Price Stabilization Act of 2005
• related to ← Consumer Reasonable Energy Price Protection Act of 2005
• related to ← Windfall Profits Rebate Act of 2005
• related to ← Consumer Windfall Excess Oil Profits Protection Act of 2005
• related to ← Windfall Profits and Consumer Assistance Act of 2005
• related to ← To amend the Internal Revenue Code of 1986 to impose a temporary windfall profit tax on crude oil and to use the proceeds to carry out the Low-Income Home Energy Assistance Act of 1981.
• related to ← Consumer Energy Assistance and Fairness Act of 2005
• related to ← Recapture Excess Profits and Invest in Relief (REPAIR) Act of 2005
• related to ← Windfall Profits Rebate Act of 2005

Showing 10 of 12 related records.