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H.R. 2070 109th Congress House

Gas Price Spike Act of 2005

Official title: To amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas (and products thereof) and to allow an income tax credit for … Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas (and products thereof) and to allow an income tax credit for purchases of fuel-efficient passenger vehicles, and to allow grants for mass transit.

Introduced: May 4, 2005 See on congress.gov
Energy Automobile industryBuy AmericanCollective bargainingCommerce
More subjectsShow fewer subjects
Economics and Public FinanceEnergy efficiencyExcess profits taxFederal advisory bodiesFederal aid to transportationForeign Trade and International FinanceFuel consumptionGas industryGovernment Operations and PoliticsIncome taxLabor and EmploymentLabor contractsMass rapid transitMotor busesMotor vehiclesNatural gasPetroleumPetroleum industryRailroad commuting trafficSubwaysTax creditsTaxationTransportation and Public WorksUser charges
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 3, 2006
Sponsor introductory remarks on measure. (CR H1986-1987)
Sep 21, 2005
Sponsor introductory remarks on measure. (CR E1913)
May 5, 2005
Referred to the Subcommittee on Highways, Transit and Pipelines.
May 4, 2005
Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, 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 4, 2005
Sponsor introductory remarks on measure. (CR E867)
May 4, 2005
Introduced in House
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 Latest action May 3, 2006

Sponsor introductory remarks on measure. (CR H1986-1987)

 Plain-English summary Congressional Research Service

Gas Price Spike Act of 2005 - Amends the Internal Revenue Code to impose a windfall profit tax on crude oil, natural gas, or products of crude oil or natural gas. Defines "windfall profit" as so much of the profit on a sale of crude oil, natural gas, or related products as exceeds a reasonable profit. Establishes the Reasonable Profits Board to determine levels of reasonable profit from the sale of such products.

Allows a tax credit for the purchase of certain fuel-efficient, American-made passenger vehicles.

Authorizes the Secretary of Transportation to make grants to operators of mass transit systems, including bus and commuter rail systems, to reduce passenger fares on such systems.

 Related & companion bills 12
  • HR 3544 Gasoline Price Stabilization Act of 2005
  • HR 3664 Consumer Reasonable Energy Price Protection Act of 2005
  • HR 3752 Gas Price Relief Act of 2005
  • HR 4203 Windfall Profits Rebate Act of 2005
  • HR 4248 To amend the Internal Revenue Code of 1986 to impose a temporary windfall profit tax on crude oil and to use the procee…
  • HR 4263 Windfall Profits and Consumer Assistance Act of 2005
  • HR 4276 Consumer Windfall Excess Oil Profits Protection Act of 2005
  • HR 4449 Consumer Energy Assistance and Fairness Act of 2005
  • S 1631 Windfall Profits Rebate Act of 2005
  • S 1809 Recapture Excess Profits and Invest in Relief (REPAIR) Act of 2005
Show all 12 related billsShow fewer related bills
  • S 1981 Windfall Profits Tax Act of 2005
  • S 2103 A bill to impose a temporary windfall profits tax on crude oil and provide a rebate to each household from the revenues…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 13
All 13 Democratic 9 Independent 1
D
Markey, Edward J.
Massachusetts · Apr 27, 2006
 D
Neal, Richard E.
Massachusetts · Apr 27, 2006
Watson, Diane
· Apr 27, 2006
 D
Sánchez, Linda T.
California · Sep 29, 2005
 D
Baldwin, Tammy
Wisconsin · Jul 11, 2005
 D
Davis, Danny K.
Illinois · May 4, 2005
KANJORSKI, PAUL
· May 4, 2005
 D
Kaptur, Marcy
Ohio · May 4, 2005
 D
McGovern, James P.
Massachusetts · May 4, 2005
 D
Nadler, Jerrold
New York · May 4, 2005
 I
Sanders, Bernard
Vermont · May 4, 2005
 D
Sherman, Brad
California · May 4, 2005
STUPAK, BART
· May 4, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2070: Gas Price Spike Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-HR-2070/
MLA
"H.R. 2070: Gas Price Spike Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-2070/.
Bluebook (legal)
H.R. 2070, 109th Cong. (2026), https://openamerica.io/bill/109-HR-2070/.
Markdown link
[H.R. 2070: Gas Price Spike Act of 2005](https://openamerica.io/bill/109-HR-2070/)
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