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HR 4587 97th Congress House Taxation Excess profits tax Petroleum and petroleum products Petroleum industry Secondary recovery of oil Tax credits Tax exemption Tax rates

Economic Recovery Tax Reform Act of 1981

Introduced: September 24, 1981 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 1981
Referred to House Committee on Ways and Means.
Sep 24, 1981
Introduced in House
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 Plain-English summary Congressional Research Service

Economic Recovery Tax Reform Act of 1981 - Repeals provisions in the Economic Recovery Tax Act of 1981 regarding the windfall profit tax which: (1) increase the credit for royalty owners for 1981 and exempt royalty oil for 1982 and thereafter; (2) reduce the tax imposed on newly discovered oil; and (3) exempt independent producer stripper well oil.

What's happening now September 24, 1981

Referred to House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Markey, Edward J.
Massachusetts · Oct 20, 1981
 D
Wyden, Ron
Oregon · Oct 20, 1981
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4587: Economic Recovery Tax Reform Act of 1981. 97th Congress. Open America. https://openamerica.io/bill/97-HR-4587/
MLA
"H.R. 4587: Economic Recovery Tax Reform Act of 1981." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-4587/.
Bluebook (legal)
H.R. 4587, 97th Cong. (2026), https://openamerica.io/bill/97-HR-4587/.
Markdown link
[H.R. 4587: Economic Recovery Tax Reform Act of 1981](https://openamerica.io/bill/97-HR-4587/)
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