Recapture Excess Profits and Invest in Roads (REPAIR) Act of 2008
Latest action · Mar 13, 2008 Read twice and referred to the Committee on Finance.
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.
- IntroducedMar 13, 2008
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Recapture Excess Profits and Invest in Road (REPAIR) Act of 2008 - Amends the Internal Revenue Code to impose in 2008 or 2009 an excise tax of 25% on the windfall profits of integrated oil companies and other producers and refiners of crude oil (crude oil condensates and natural gasoline) with gross receipts over $1 billion.
Allows a tax deduction for the payment of the windfall profit tax imposed by this Act.
Requires the transfer of windfall profit tax revenues to the Highway Trust Fund.
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Mar 13, 2008Introduced in Senate
- Mar 13, 2008Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 2782 | Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008 | Related bill | Mar 13, 2008 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Mar 13, 2008Introduced in Senate
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.