Consumer Energy Assistance and Fairness Act of 2005
Latest action · Mar 27, 2006 Referred to the Subcommittee on Education Reform.
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.
- IntroducedDec 6, 2005
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Consumer Energy Assistance and Fairness Act of 2005 - Amends the Internal Revenue Code to impose an excise tax on certain integrated oil companies for 50% of their annual net windfall profit. Defines "windfall profit" as the excess of the removal price (sales price) of a barrel of taxable crude oil over its adjusted base price (i.e., $40 per barrel, adjusted for inflation). Terminates such tax three years after the enactment of this Act.
Allows a tax deduction for any windfall profit tax paid under this Act.
Allows a $1,000 tax credit for the purchase of a fuel-efficient motor vehicle (i.e., a vehicle with a fuel economy rating of not less than 30 miles per gallon).
Establishes in the Treasury an Energy Assistance Trust Fund to: (1) make grants under the Low-Income Gasoline Assistance Program Act; and (2) carry out the Low-Income Home Energy Assistance Act of 1981. Appropriates to such Fund tax windfall profit tax revenues generated by this Act.
Low-Income Gasoline Assistance Program Act - Directs the Secretary of Health and Human Services to make grants to states to establish emergency assistance programs to enable eligible low-income households to purchase gasoline.
Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to authorize a state to use funds from any TANF grant to carry out a low-income gasoline assistance program.
Cosponsors
Members who signed on, in the order they did.
Committees 3
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 Dec 6, 2005 |
| House | Energy and Commerce Committee | Referred Dec 6, 2005 |
| Energy Subcommittee | Referred Jan 3, 2006 | |
| House | Education and Workforce Committee | Referred Dec 6, 2005 |
| Higher Education and Workforce Development Subcommittee | Referred Mar 27, 2006 | |
| Early Childhood, Elementary, and Secondary Education Subcommittee | Referred Mar 27, 2006 |
Actions 5
Everything that happened, newest first.
- Mar 27, 2006Referred to the Subcommittee on 21st Century Competitiveness.
- Mar 27, 2006Referred to the Subcommittee on Education Reform.
- Jan 3, 2006Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
- Dec 6, 2005Introduced in House
- Dec 6, 2005Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and the Workforce, 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 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
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 |
Related bills 12
Companion bills and other measures the record links to this one.
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to impose a temporary windfall profit tax on crude oil, to allow a credit against tax for qualified fuel-efficient vehicles placed in service during the taxable year, to establish the Energy Assistance Trust Fund, and for other purposes.
- Short Titles as Introduced
- Consumer Energy Assistance and Fairness Act of 2005
- Short Titles as Introduced for portions of this bill
- Low-Income Gasoline Assistance Program Act
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Access to health care
- Aid to dependent children
- Cash welfare block grants
- Commerce
- Economics and Public Finance
- Energy
- Energy assistance for the poor
- Energy efficiency
- Energy prices
- Excess profits tax
- Excise tax
- Families
- Federal aid to Indians
- Federal aid to transportation
- Fuel consumption
- Gasoline
- Government trust funds
- Health
- Income tax
- Labor and Employment
- Minorities
- Native Americans
- Petroleum
- Petroleum industry
- Social Welfare
- Tax credits
- Tax deductions
- Taxation
- Transportation and Public Works
- Vocational and technical education
- Welfare eligibility
Text 1
Each version as it was printed, newest first.
- Dec 6, 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.