Gas Stamps Act of 2005
Latest action · Sep 19, 2005 Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedSep 8, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Gas Stamps Act of 2005 - Directs the Secretary of Energy to: (1) establish a program for the equitable allocation among the states of gas stamps for distribution to individuals eligible to receive food stamps who can demonstrate a need for gasoline; and (2) provide for the distribution of gas stamps in conjunction with the distribution of food stamps, in coordination with the Secretary of Agriculture.
Sets a $330 million limit for such national distribution in each of the first three months after enactment of this Act.
Amends the Internal Revenue Code to impose an excise tax upon the sale in the United States of any crude oil, natural gas, and any fuel which is a product of crude oil or natural gas, equal to the windfall profit on such sale.
Defines "windfall profit" as so much of the profit on such sale as exceeds a 15 percent pretax rate of return.
Imposes liability for the windfall profits tax upon the seller.
Cosponsors 8
Members who signed on, in the order they did. Signatures ran from Sep 14, 2005 to Apr 25, 2006.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CA | Barbara Lee | Sep 14, 2005 | |
| D-NJ | Frank Pallone, Jr. | Sep 14, 2005 | |
| D-FL | Robert Wexler | Sep 14, 2005 | |
| D-NY | Major R. Owens | Sep 15, 2005 | |
| D-NY | Timothy H. Bishop | Sep 21, 2005 | |
| D-NJ | Donald M. Payne | Apr 25, 2006 | |
| D-MI | John Conyers, Jr. | Apr 25, 2006 | |
| D-AZ | Raúl M. Grijalva | Apr 25, 2006 |
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Sep 8, 2005 |
| House | Energy and Commerce Committee | Referred Sep 8, 2005 |
| Energy Subcommittee | Referred Sep 19, 2005 |
Actions 3
Everything that happened, newest first.
- Sep 19, 2005Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
- Sep 8, 2005Introduced in House
- Sep 8, 2005Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 2
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 2
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| RL34689 | Oil Industry Financial Performance and the Windfall Profits Tax Archived | Report | Jul 13, 2011 |
| R40841 | Assisting Households with the Costs of a CapandTrade Program: Options and Considerations for Congress Archived | Report | Oct 8, 2009 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To establish a program for gas stamps and to impose a windfall profits tax on crude oil, natural gas, and products thereof.
- Short Titles as Introduced
- Gas Stamps Act of 2005
Subjects
Assigned by the Library of Congress. Policy area: Energy.
Text 1
Each version as it was printed, newest first.
- Sep 8, 2005Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.