HR 6000 · 110th Congress 2007–2009, ended

Gas Price Spike Act of 2008

Introduced May 8, 2008 Originated House Sponsor Dennis J. Kucinich D-OH

Fact sheet Spreadsheet

Latest action · May 9, 2008 Referred to the Subcommittee on Highways and Transit.

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.

  1. IntroducedMay 8, 2008
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Gas Price Spike Act of 2008 - Amends the Internal Revenue Code to impose a windfall profit tax on crude oil, natural gas, or products of crude oil or natural gas. Defines "windfall profit" as so much of the profit on a sale of crude oil, natural gas, or related products as exceeds a reasonable profit. Establishes the Reasonable Profits Board to determine levels of reasonable profit from the sale of such products.

Allows a tax credit for the purchase of certain fuel-efficient, American-made passenger vehicles.

Authorizes the Secretary of Transportation to make grants to operators of mass transit systems, including bus and commuter rail systems, to reduce passenger fares on such systems.

Cosponsors 66

Members who signed on, in the order they did. All signed on May 8, 2008.

SeatCosponsorSigned on
D-FLAlcee L. HastingsOriginalMay 8, 2008
D-CABarbara LeeOriginalMay 8, 2008
D-MABarney FrankOriginalMay 8, 2008
D-MIBart StupakOriginalMay 8, 2008
D-OHBetty SuttonOriginalMay 8, 2008
D-MABill DelahuntOriginalMay 8, 2008
D-CABob FilnerOriginalMay 8, 2008
D-CABrad ShermanOriginalMay 8, 2008
D-MICarolyn C. KilpatrickOriginalMay 8, 2008
D-PAChaka FattahOriginalMay 8, 2008
D-MIDale E. KildeeOriginalMay 8, 2008
D-ILDaniel LipinskiOriginalMay 8, 2008
D-ILDanny K. DavisOriginalMay 8, 2008
D-CADiane E. WatsonOriginalMay 8, 2008
D-NJDonald M. PayneOriginalMay 8, 2008
D-TXEddie Bernice JohnsonOriginalMay 8, 2008
D-NYEdolphus TownsOriginalMay 8, 2008
D-MDElijah E. CummingsOriginalMay 8, 2008
D-MOEmanuel CleaverOriginalMay 8, 2008
D-CAFortney Pete StarkOriginalMay 8, 2008
D-CAGeorge MillerOriginalMay 8, 2008
D-CAGrace F. NapolitanoOriginalMay 8, 2008
D-WIGwen MooreOriginalMay 8, 2008
D-CAHenry A. WaxmanOriginalMay 8, 2008
D-CAHoward L. BermanOriginalMay 8, 2008
D-MAJames P. McGovernOriginalMay 8, 2008
D-ILJanice D. SchakowskyOriginalMay 8, 2008
D-NYJerrold NadlerOriginalMay 8, 2008
D-ILJesse L. Jackson, Jr.OriginalMay 8, 2008
D-WAJim McDermottOriginalMay 8, 2008
D-KYJohn A. YarmuthOriginalMay 8, 2008
D-CTJohn B. LarsonOriginalMay 8, 2008
D-MIJohn Conyers, Jr.OriginalMay 8, 2008
D-MAJohn F. TierneyOriginalMay 8, 2008
D-GAJohn LewisOriginalMay 8, 2008
D-MAJohn W. OlverOriginalMay 8, 2008
D-NYJose E. SerranoOriginalMay 8, 2008
D-MNKeith EllisonOriginalMay 8, 2008
D-CALinda T. SánchezOriginalMay 8, 2008
D-CALois CappsOriginalMay 8, 2008
D-NYLouise McIntosh SlaughterOriginalMay 8, 2008
D-CALucille Roybal-AllardOriginalMay 8, 2008
D-ILLuis V. GutierrezOriginalMay 8, 2008
D-CALynn C. WoolseyOriginalMay 8, 2008
D-OHMarcy KapturOriginalMay 8, 2008
D-NYMaurice D. HincheyOriginalMay 8, 2008
D-HIMazie K. HironoOriginalMay 8, 2008
D-PAMichael F. DoyleOriginalMay 8, 2008
D-CAMichael M. HondaOriginalMay 8, 2008
D-NYMichael R. McNultyOriginalMay 8, 2008
D-HINeil AbercrombieOriginalMay 8, 2008
D-WVNick J. Rahall IIOriginalMay 8, 2008
D-NYNita M. LoweyOriginalMay 8, 2008
D-RIPatrick J. KennedyOriginalMay 8, 2008
D-PAPaul E. KanjorskiOriginalMay 8, 2008
D-ORPeter A. DeFazioOriginalMay 8, 2008
D-ILPhil HareOriginalMay 8, 2008
D-AZRaúl M. GrijalvaOriginalMay 8, 2008
D-PARobert A. BradyOriginalMay 8, 2008
D-VARobert C. "Bobby" ScottOriginalMay 8, 2008
D-FLRobert WexlerOriginalMay 8, 2008
D-CASam FarrOriginalMay 8, 2008
D-TNSteve CohenOriginalMay 8, 2008
D-NJSteven R. RothmanOriginalMay 8, 2008
D-OHTim RyanOriginalMay 8, 2008
D-MOWm. Lacy ClayOriginalMay 8, 2008

Committees 2

Where it was sent and what each committee and subcommittee did with it, in order.

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred May 8, 2008
HouseTransportation and Infrastructure Committee
Referred May 8, 2008
Highways and Transit Subcommittee
Referred May 9, 2008

Actions 3

Everything that happened, newest first.

  1. May 9, 2008Referred to the Subcommittee on Highways and Transit.
  2. May 8, 2008Introduced in House
  3. May 8, 2008Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, 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.

ProductTitleKindPublished
RL34689Oil Industry Financial Performance and the Windfall Profits Tax ArchivedReportJul 13, 2011

Titles 2

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 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.
Short Titles as Introduced
Gas Price Spike Act of 2008

Subjects

Assigned by the Library of Congress. Policy area: Energy.

Text 1

Each version as it was printed, newest first.

  1. May 8, 2008Introduced in House

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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.