Energy Freedom and Economic Prosperity Act of 2014
Latest action · May 1, 2014 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.
- IntroducedMay 1, 2014
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Energy Freedom and Economic Prosperity Act of 2014 - Amends the Internal Revenue Code to repeal tax credits for: (1) alcohol fuel, biodiesel, and alternative fuel mixtures; (2) alternative motor vehicles; (3) new qualified plug-in electric drive motor vehicles; (4) alcohol used as fuel; (5) enhanced oil recovery; (6) producing oil and gas from marginal wells; (7) producing electricity from advanced nuclear power facilities; (8) carbon dioxide sequestration; (9) investment in energy property; and (10) investment in qualifying advanced coal projects, qualifying gasification projects, and qualifying advanced energy projects.
Directs the Secretary of the Treasury to revise the income tax rates for corporations based upon the overall revenue savings from the repeal of the energy tax expenditures by this Act and ensure that each revised rate is reduced by a uniform percentage.
Cosponsors 1
Members who signed on, in the order they did. All signed on May 15, 2014.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-PA | Patrick J. Toomey | May 15, 2014 |
Actions 2
Everything that happened, newest first.
- May 1, 2014Introduced in Senate
- May 1, 2014Read twice and referred to the Committee on Finance.
Related bills 3
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 259 | Energy Freedom and Economic Prosperity Act | Related bill | Jan 15, 2013 |
| HR 1569 | New Fair Deal Busting America's Rigid Outdated & Needless Subsidies Act of 2013 | Related bill | Apr 15, 2013 |
| HR 3895 | EXPAND Act | Related bill | Jun 20, 2014 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Air quality
- Alternative and renewable resources
- Climate change and greenhouse gases
- Coal
- Corporate finance and management
- Electric power generation and transmission
- Hybrid, electric, and advanced technology vehicles
- Income tax credits
- Income tax rates
- Motor fuels
- Nuclear power
- Oil and gas
- Sales and excise taxes
- Taxation
Text 1
Each version as it was printed, newest first.
- May 1, 2014Introduced 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.