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
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
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.
May 23, 2001
Introduced in House
Plain-English summary
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
Referred to the Subcommittee on Highways and Transit.