Windfall Profits Rebate Act of 2005

Summary

Windfall Profits Rebate Act of 2005 - Amends the Internal Revenue Code to: (1) impose an excise tax 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; and (3) allow an income tax rebate for all taxpayers based upon windfall tax revenues, as determined by the Secretary of the Treasury. Defines "windfall profit" as the excess of the removal (sales) price of a barrel of taxable crude oil over the adjusted base price ($40 per barrel adjusted for inflation) of such barrel.

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Timeline

1. 2 November 2005

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 2 November 2005

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 November 2005

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 November 2005 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 November 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 November 2005

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 2 November 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

• Rep. DeLauro, Rosa L. [D-CT-3] · D · Sponsor
• · 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 → Gas Price Relief 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
• related to ← A bill to impose a temporary windfall profits tax on crude oil and provide a rebate to each household from the revenues resulting from such tax.
• related to ← Windfall Profits Tax Act of 2005