PoliticalRepoPoliticalRepo

United States · Bill · HR

H.R. 7751 (117th)

GOUGE Act

referredUnited States· United States Congress· EN

Introduced

12 May 2022

Last action

—

Status

Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.

Sponsors

—

Subjects

Discovery layer

Source updated

3 January 2025

Official sourceDownload fileView documentsShare

Summary

Government Oversight of Unpatriotic Greed in Energy Act or the GOUGE Act This bill allows an exemption from the excise tax on gasoline, other than aviation gasoline, and the Leaking Underground Storage Tank Trust Fund financing rate, for the period beginning on the enactment of this bill, and ending on December 31, 2022 (gasoline tax holiday). It provides full reimbursement to states for any revenues lost due to the gasoline tax holiday. The bill also imposes an excise tax equal to 50% of the windfall profit of certain large oil and gas companies, beginning in 2022. The bill requires the Federal Trade Commission (FTC) to issue regulations prohibiting any sellers of crude oil, gasoline, or other petroleum distillate from engaging in price gouging. The FTC must investigate whether any oil company violated such prohibition during 2022, particularly during the period leading up to and after the Russian invasion of Ukraine on February 24, 2022, and impose specified civil penalties.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

3 official files

Introduced in House (text)

View fileDownload file

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.