United States · Bill · S
S. 1707 (95th)
A bill to amend the Internal Revenue Code of 1954 to provide a wellhead tax on oil.
Introduced
16 June 1977
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
1 August 2024
Summary
Amends the Internal Revenue Code to impose a wellhead excise tax on crude oil production which would penalize producers who "plowback" fewer funds into new production. Repeals the President's authority, after 1977, to determine prices for crude, residual and refined oil and petroleum products under the Emergency Petroleum Allocation Act.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 16 June 1977
Sponsors
No sponsors or actors listed by the source.
Related records
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Sources
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- Official source: https://www.congress.gov/bill/95th-congress/senate-bill/1707
- Open data entity: https://api.congress.gov/v3/bill/95/s/1707