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United States · Bill · S

S. 1412 (99th)

A bill to increase the tariff on petroleum products by $10 per barrel.

openUnited States· United States Congress· EN

Introduced

10 July 1985

Last action

17 July 1985 · Committee

Status

Committee on Finance requested executive comment from OMB, International Trade Commission, Office of the U.S. Trade Representative, Treasury Department, State Department, Commerce Department.

Sponsors

Sen. Hart, Gary W. [D-CO]

Subjects

Discovery layer

Source updated

3 January 2025

Official sourceView documentsShare

Summary

Amends the Tariff Schedules of the United States to increase the duty on petroleum and petroleum products imported into the United States by ten dollars per barrel. Authorizes appropriations to the President to provide or increase funding for financial assistance to lower income individuals and families adversely affected by increased energy costs by an amount equal to the increased duty imposed by this Act. Requires the Secretary of Health and Human Services and the Secretary of Energy to determine the monetary effect of such duty on such individuals and families. Amends the Social Security Act to transfer the revenues created by such duty to the Federal Old-Age and Survivors Insurance Trust Fund. Requires the Secretary of the Treasury to reduce, from time to time, the tax rates relating to old-age, survivors, and disability insurance by an amount equal to the net revenues attributable to the duty imposed by this Act. Provides that the residents of no State shall receive a portion of such tax reductions that is disproportionate to the portion received by residents of another State.

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

Timeline

  1. 10 July 1985

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 10 July 1985

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 17 July 1985

    Committee

    Committee on Finance requested executive comment from OMB, International Trade Commission, Office of the U.S. Trade Representative, Treasury Department, State Department, Commerce Department.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Sponsors

Related records

No cross-record relationships stored yet.

Sources

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