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S 103 110th Congress Senate

Restore a Rational Tax Rate on Petroleum Production Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to provide that major oil and gas companies will not be eligible for the effective rate reductions enacted in 2004 for domestic manufacturers.

Introduced: January 4, 2007 See on congress.gov
Taxation CommerceCorporation taxesEnergyGas companies
More subjectsShow fewer subjects
Gas industryIncome taxPetroleum industryTax deductionsTax rates
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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
Jan 4, 2007
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S111)
Jan 4, 2007
Sponsor introductory remarks on measure. (CR S111)
Jan 4, 2007
Introduced in Senate
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 Latest action January 4, 2007

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S111)

 Plain-English summary Congressional Research Service

Restore a Rational Tax Rate on Petroleum Production Act of 2007 - Amends the Internal Revenue Code to deny a tax deduction in the case of any major integrated oil company for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, natural gas, or any primary product thereof.

 Related & companion bills 2
  • HR 6 Related bill Energy Independence and Security Act of 2007
  • HR 453 Related bill Ending Subsidies for Big Oil Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Wyden, Ron
Oregon · Jan 4, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 103: Restore a Rational Tax Rate on Petroleum Production Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-103/
MLA
"S. 103: Restore a Rational Tax Rate on Petroleum Production Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-103/.
Bluebook (legal)
S. 103, 110th Cong. (2026), https://openamerica.io/bill/110-S-103/.
Markdown link
[S. 103: Restore a Rational Tax Rate on Petroleum Production Act of 2007](https://openamerica.io/bill/110-S-103/)
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