GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal:
(1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures;
(2) the tax credits for the purchase of alternative motor vehicles and new qualified plug-in electric drive motor vehicles;
(3) the alternative fuel vehicle refueling property tax credit;
(4) the income tax credits for alcohol, biodiesel, and renewable diesel used as fuel;
(5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells;
(6) the tax credits for producing electricity from renewable resources and from advanced nuclear power facilities;
(7) the tax credit for carbon dioxide sequestration;
(8) the energy tax credit; and
(9) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects.
Directs the Secretary of the Treasury to prescribe a flat income tax rate for corporations, in lieu of the existing marginal tax rates, based upon the overall revenue savings from the repeal of energy tax expenditures by this Act.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.