A bill to amend the Internal Revenue Code of 1954 to impose a fee on the importation of crude oil or refined petroleum products to protect the national and energy security interests of the United States.

Summary

Amends the Internal Revenue Code to impose an import fee on: (1) the first sale within the United States of any crude oil or any refined petroleum product imported into the United States; and (2) the use within the United States of any crude oil or any refined petroleum product imported into the United States if no such tax has been imposed prior to such use. Exempts from such tax crude oil or refined petroleum products purchased for export. Sets the rate of such tax at $4 per barrel reduced by an amount equal to the excess of the energy policy price per barrel over $18.

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

Timeline

1. 4 February 1987

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 4 February 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 4 February 1987

  Open at official source

Sponsors

• Sen. Domenici, Pete V. [R-NM] · R · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Nickles, Don [R-OK] · R · Sponsor
• Sen. Bingaman, Jeff [D-NM] · D · Sponsor
• Sen. Johnston, J. Bennett [D-LA] · D · Sponsor
• Sen. Stevens, Ted [R-AK] · R · Sponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Sponsor
• Sen. Kassebaum, Nancy Landon [R-KS] · R · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Simpson, Alan K. [R-WY] · R · Sponsor
• Sen. Breaux, John B. [D-LA] · D · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.