Consumer Energy Assistance and Fairness Act of 2005

Summary

Consumer Energy Assistance and Fairness Act of 2005 - Amends the Internal Revenue Code to impose an excise tax on certain integrated oil companies for 50% of their annual net windfall profit. Defines "windfall profit" as the excess of the removal price (sales price) of a barrel of taxable crude oil over its adjusted base price (i.e., $40 per barrel, adjusted for inflation). Terminates such tax three years after the enactment of this Act. Allows a tax deduction for any windfall profit tax paid under this Act. Allows a $1,000 tax credit for the purchase of a fuel-efficient motor vehicle (i.e., a vehicle with a fuel economy rating of not less than 30 miles per gallon). Establishes in the Treasury an Energy Assistance Trust Fund to: (1) make grants under the Low-Income Gasoline Assistance Program Act; and (2) carry out the Low-Income Home Energy Assistance Act of 1981. Appropriates to such Fund tax windfall profit tax revenues generated by this Act. Low-Income Gasoline Assistance Program Act - Directs the Secretary of Health and Human Services to make grants to states to establish emergency assistance programs to enable eligible low-income households to purchase gasoline. Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to authorize a state to use funds from any TANF grant to carry out a low-income gasoline assistance program.

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

Timeline

1. 6 December 2005

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 6 December 2005

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 6 December 2005

   Introduced

   Introduced in House

   Source: IntroReferral

4. 6 December 2005

   Introduced

   Introduced in House

   Source: IntroReferral

5. 3 January 2006

   Referred

   Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.

   Source: Committee

6. 27 March 2006

   Referred

   Referred to the Subcommittee on 21st Century Competitiveness.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 6 December 2005 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 December 2005

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 6 December 2005

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 6 December 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. Pallone, Frank [D-NJ-6] · D · Sponsor
• · hsed00 · Standing
• · hsif00 · Standing
• · 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 → Windfall Profits Rebate 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 → Windfall Profits and Consumer Assistance Act of 2005
• related to → Consumer Windfall Excess Oil Profits Protection 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