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H.R. 4263 109th Congress House

Windfall Profits and Consumer Assistance Act of 2005

Official title: To amend the Internal Revenue Code of 1986 to impose a temporary windfall profit tax on crude oil, to establish the Consumer Energy Assistance Trust Fund, and … Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to impose a temporary windfall profit tax on crude oil, to establish the Consumer Energy Assistance Trust Fund, and to provide for a rebate to energy consumers.

Introduced: November 9, 2005 Introduced by: Edward J. Markey Democratic · Massachusetts See on congress.gov
Taxation CommerceEconomics and Public FinanceEnergyEnergy assistance for the poor
More subjectsShow fewer subjects
Energy pricesExcess profits taxExcise taxGovernment trust fundsIncome taxPetroleumPetroleum industrySocial WelfareTax rebates
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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
Apr 26, 2006
Motion to Discharge Committee filed by Mr. Markey. Petition No: 109-12. (Discharge petition text with signatures.)
Mar 24, 2006
Referred to the Subcommittee on Education Reform.
Nov 22, 2005
Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Nov 9, 2005
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and the Workforce, 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.
Nov 9, 2005
Sponsor introductory remarks on measure. (CR E2309)
Nov 9, 2005
Introduced in House
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 Latest action April 26, 2006

Motion to Discharge Committee filed by Mr. Markey. Petition No: 109-12. (<a href="http://clerk.house.gov/109/lrc/pd/Petitions/Dis12.htm">Discharge petition</a> text with signatures.)

 Plain-English summary Congressional Research Service

Windfall Profits and Consumer Assistance Act of 2005 - Amends the Internal Revenue Code to impose upon producers of crude oil an excise tax of 50 percent of their net windfall profit from the production of taxable crude oil in a taxable year. Defines "windfall profit" as the excess of the removal price (sales price) of a barrel of taxable crude oil over the adjusted base price of such barrel (i.e., $40 per barrel, adjusted for inflation). Terminates such tax three years after the enactment of this Act.

Establishes in the Treasury the Consumer Energy Assistance Trust Fund. Transfers to such Fund windfall profit tax revenues and makes amounts in such Fund available to carry out the Low-Income Home Energy Assistance Act of 1981.

Grants to taxpayers an income tax rebate in an amount to be determined by the Secretary of the Treasury based upon the number of taxpayers and available windfall profit tax revenues (reduced by amounts appropriated to such Fund).

 Related & companion bills 12
  • HR 2070 Gas Price Spike Act of 2005
  • 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 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 5
 Cosponsors 3
All 3 Democratic 2 Independent 1
D
McGovern, James P.
Massachusetts · Nov 15, 2005
 D
Nadler, Jerrold
New York · Nov 9, 2005
 I
Sanders, Bernard
Vermont · Nov 9, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4263: Windfall Profits and Consumer Assistance Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-HR-4263/
MLA
"H.R. 4263: Windfall Profits and Consumer Assistance Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-4263/.
Bluebook (legal)
H.R. 4263, 109th Cong. (2026), https://openamerica.io/bill/109-HR-4263/.
Markdown link
[H.R. 4263: Windfall Profits and Consumer Assistance Act of 2005](https://openamerica.io/bill/109-HR-4263/)
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