Energy Fairness for America Act

Summary

Energy Fairness for America Act - Amends the Internal Revenue Code to: (1) deny a tax deduction for income attributable to the domestic production of oil, natural gas, or related products; (2) terminate the tax credit for producing crude oil and gas from marginal wells; (3) repeal the exception from passive activity rules for working interests in oil or gas property; (4) extend to seven years the amortization period for geological and geophysical expenditures; (5) terminate the tax deduction for intangible drilling and development costs; and (6) terminate the percentage depletion allowance for oil and gas wells.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 20 May 2009

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 20 May 2009

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• Introduced in Senate

  summary · EN · 20 May 2009

  Open at official source

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