Consumer Windfall Excess Oil Profits Protection Act of 2005 - Amends the Internal Revenue Code to impose an excise tax of 50 percent on the windfall profit from sales of any crude oil, natural gas, or related products and the net gains from transactions related to the price of crude oil, natural gas, or related products. Defines "windfall profit" as the excess of taxpayer adjusted taxable income over the reasonably inflated average profit for the taxable year (average of taxpayer adjusted taxable income for 2000-2004, plus 10 percent of such average).
Allows a tax deduction for the payment of any such windfall profit tax.
Appropriates equal amounts of the windfall profit tax generated by this Act to carry out the Low-Income Home Energy Assistance Act of 1981 and to increase funding for Department of Veterans Affairs medical services.