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S 1631 109th Congress Senate Taxation Commerce Energy Energy prices Excess profits tax Excise tax Income tax Petroleum Petroleum industry Tax deductions Tax rebates

Windfall Profits Rebate Act of 2005

Introduced: September 7, 2005 See on congress.gov
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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
Feb 15, 2006
Sponsor introductory remarks on measure. (CR S1346)
Sep 26, 2005
Sponsor introductory remarks on measure. (CR S10419-10420)
Sep 14, 2005
Sponsor introductory remarks on measure. (CR S9999)
Sep 7, 2005
Read twice and referred to the Committee on Finance.
Sep 7, 2005
Sponsor introductory remarks on measure. (CR S9821)
Sep 7, 2005
Introduced in Senate
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 Plain-English summary Congressional Research Service

Windfall Profits Rebate Act of 2005 - Amends the Internal Revenue Code to: (1) impose an excise tax on oil companies for a percentage of the windfall profit from all barrels of taxable crude oil; (2) allow a tax deduction for the payment of any windfall profit tax; and (3) allow an income tax rebate for all taxpayers based upon windfall tax revenues, as determined by the Secretary of the Treasury. Defines "windfall profit" as the excess of the removal (sales) price of a barrel of taxable crude oil over the adjusted base price ($40 per barrel adjusted for inflation) of such barrel.

What's happening now February 15, 2006

Sponsor introductory remarks on measure. (CR S1346)

 Related & companion bills 12
  • HR 2070 Related bill Gas Price Spike Act of 2005
  • HR 3544 Related bill Gasoline Price Stabilization Act of 2005
  • HR 3664 Related bill Consumer Reasonable Energy Price Protection Act of 2005
  • HR 3752 Related bill Gas Price Relief Act of 2005
  • HR 4248 Related bill 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 Related bill Windfall Profits and Consumer Assistance Act of 2005
  • HR 4276 Related bill Consumer Windfall Excess Oil Profits Protection Act of 2005
  • HR 4449 Related bill Consumer Energy Assistance and Fairness Act of 2005
  • S 1809 Related bill Recapture Excess Profits and Invest in Relief (REPAIR) Act of 2005
  • S 1981 Related bill Windfall Profits Tax Act of 2005
  • S 2103 Related bill A bill to impose a temporary windfall profits tax on crude oil and provide a rebate to each household from the revenues…
  • HR 4203 Identical bill Windfall Profits Rebate Act of 2005
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Reed, Jack
Rhode Island · Sep 27, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1631: Windfall Profits Rebate Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-S-1631/
MLA
"S. 1631: Windfall Profits Rebate Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-S-1631/.
Bluebook (legal)
S. 1631, 109th Cong. (2026), https://openamerica.io/bill/109-S-1631/.
Markdown link
[S. 1631: Windfall Profits Rebate Act of 2005](https://openamerica.io/bill/109-S-1631/)
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