HR 659
101th Congress
House
Taxation
Energy policy
Excise tax
Feedstock
Fees
Foreign Trade and International Finance
Imports
Petrochemicals
Petroleum
Petroleum industry
Energy Security Tax Act of 1989
Introduced: January 27, 1989
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 27, 1989
Referred to the House Committee on Ways and Means.
Jan 27, 1989
Introduced in House
Plain-English summary
Energy Security Tax Act of 1989 - Amends the Internal Revenue Code to impose an excise tax on the first sale within the United States of imports of: (1) crude oil; (2) refined petroleum products; and (3) petrochemical feedstocks or petrochemical derivatives.
Sets the rate of the tax as the difference between $22 per barrel ($24.50 for petroleum and petrochemical products) and the most recently published average price of a barrel of internationally traded oil, as determined by the Secretary of the Treasury in accordance with a specified formula.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1