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HR 1967 107th Congress House Taxation Automobile fuel consumption Business income tax Buy American Commerce Commuting Corporate profits Energy Energy efficiency Environmental Protection Excess profits tax Excise tax Executive reorganization Federal aid to transportation Foreign Trade and International Finance Gas industry Gasoline tax Government Operations and Politics Income tax Intellectual property

Gas Price Spike Act of 2001

Introduced: May 23, 2001 See on congress.gov
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 24, 2001
Referred to the Subcommittee on Highways and Transit.
May 23, 2001
Introduced in House
May 23, 2001
Referred to the Committee on Ways and Means, and in addition to the Committees on Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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 Plain-English summary Congressional Research Service
Gas Price Spike Act of 2001 - Amends the Internal Revenue Code to impose an excise tax on the sale of any crude oil, natural gas, or products thereof a tax equal to the applicable percentage of the windfall profit on such sale. Defines "applicable percentage."

Establishes a credit for the purchase of U.S.- made fuel efficient passenger vehicles.

Authorizes the Secretary of Transportation to make grants to the operator of a mass transit system to assist the operator in reducing fares paid by passengers using the system which shall be paid for by revenues from the windfall profits tax.

Establishes an independent board to be known as the Reasonable Profits Board to make reasonable profit determinations with respect to the windfall profit tax.

What's happening now May 24, 2001

Referred to the Subcommittee on Highways and Transit.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
 Cosponsors 4
All 4 Democratic 3 Independent 1
D
Davis, Danny K.
Illinois · May 23, 2001
 D
McGovern, James P.
Massachusetts · May 23, 2001
 I
Sanders, Bernard
Vermont · May 23, 2001
 D
Sherman, Brad
California · May 23, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1967: Gas Price Spike Act of 2001. 107th Congress. Open America. https://openamerica.io/bill/107-HR-1967/
MLA
"H.R. 1967: Gas Price Spike Act of 2001." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-1967/.
Bluebook (legal)
H.R. 1967, 107th Cong. (2026), https://openamerica.io/bill/107-HR-1967/.
Markdown link
[H.R. 1967: Gas Price Spike Act of 2001](https://openamerica.io/bill/107-HR-1967/)
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