H.R. 3784 (112th): Gas Price Spike Act of 2012

Introduced:
Jan 18, 2012 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee)
Sponsor
Dennis Kucinich
Representative for Ohio's 10th congressional district
Party
Democrat
Text
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Last Updated
Jan 18, 2012
Length
11 pages
Related Bills
H.R. 6000 (110th) was a previous version of this bill.

Referred to Committee
Last Action: May 08, 2008

 
Status

This bill was introduced on January 18, 2012, in a previous session of Congress, but was not enacted.

Progress
Introduced Jan 18, 2012
Referred to Committee Jan 18, 2012
 
Full Title

To amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas (and products thereof) and to allow an income tax credit for purchases of fuel-efficient passenger vehicles, and to allow grants for mass transit.

Summary

No summaries available.

Cosponsors
3 cosponsors (3D) (show)
Committees

House Transportation and Infrastructure

Highways and Transit

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


1/18/2012--Introduced.
Gas Price Spike Act of 2012 - Amends the Internal Revenue Code to:
(1) impose an excise tax on the windfall profit from the sale of any crude oil, natural gas, or fuel which is the product of crude oil or natural gas; and
(2) allow a tax credit for the purchase of certain fuel-efficient automobiles assembled in the United States by individuals employed under a collective bargaining agreement.
Defines "windfall profit" as so much of the profit from sales of oil and natural gas as exceeds a reasonable profit.
Establishes a Reasonable Profits Board to make reasonable profit determinations for purposes of applying the windfall profit tax.
Authorizes the Secretary of Transportation to make grants to mass transit systems, including bus and commuter rail systems, for reducing passenger fares.

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

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