HR 7099 · 117th Congress 2021–2023, ended

Stop Gas Price Gouging Tax and Rebate Act

Introduced Mar 16, 2022 Originated House Sponsor Peter A. DeFazio D-OR

Fact sheet Spreadsheet

Latest action · Mar 16, 2022 Referred to the House Committee on Ways and Means.

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. IntroducedMar 16, 2022
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Stop Gas Price Gouging Tax and Rebate Act

This bill imposes an excise tax of 50% of the excess of the windfall profit of a producer of crude oil (including crude oil condensates and natural gasoline) that has an average daily worldwide production of crude oil of at least 300,000 barrels for the taxable year, and had gross receipts in excess of $1 billion for its last taxable year during 2005. The bill defines windfall profit as the excess of the adjusted taxable income of such producer for taxable year 2022 over the reasonably inflated average profit for such taxable year.

The bill requires payment of energy price rebates to eligible individuals.

Cosponsors 47

Members who signed on, in the order they did. Signatures ran from Mar 16, 2022 to Jul 27, 2022; 17 are original cosponsors, there from the day it was introduced.

SeatCosponsorSigned on
D-INAndré CarsonOriginalMar 16, 2022
D-MEChellie PingreeOriginalMar 16, 2022
D-NCDeborah K. RossOriginalMar 16, 2022
D-NVDina TitusOriginalMar 16, 2022
D-ILJesús G. "Chuy" GarcíaOriginalMar 16, 2022
D-CAKatie PorterOriginalMar 16, 2022
D-ILLauren UnderwoodOriginalMar 16, 2022
D-OHMarcy KapturOriginalMar 16, 2022
D-CAMark TakanoOriginalMar 16, 2022
D-NYMondaire JonesOriginalMar 16, 2022
D-CANanette Diaz BarragánOriginalMar 16, 2022
D-VTPeter WelchOriginalMar 16, 2022
D-WAPramila JayapalOriginalMar 16, 2022
D-MIRashida TlaibOriginalMar 16, 2022
D-AZRaúl M. GrijalvaOriginalMar 16, 2022
D-TNSteve CohenOriginalMar 16, 2022
D-NJTom MalinowskiOriginalMar 16, 2022
D-CAAdam B. SchiffMar 17, 2022
D-DCEleanor Holmes NortonMar 17, 2022
D-INFrank J. MrvanMar 17, 2022
D-NYJamaal BowmanMar 17, 2022
D-ILMarie NewmanMar 17, 2022
D-PAMary Gay ScanlonMar 17, 2022
D-ILMike QuigleyMar 17, 2022
D-NVSteven HorsfordMar 17, 2022
D-CATed LieuMar 17, 2022
D-WAAdam SmithMar 18, 2022
D-MNBetty McCollumMar 18, 2022
D-NJBonnie Watson ColemanMar 29, 2022
D-MOEmanuel CleaverMar 29, 2022
D-MAJames P. McGovernMar 29, 2022
D-ILJanice D. SchakowskyMar 29, 2022
D-CAJared HuffmanMar 29, 2022
D-GUMichael F. Q. San NicolasMar 29, 2022
D-AZRuben GallegoMar 29, 2022
D-MDC. A. Dutch RuppersbergerMar 30, 2022
D-CABrad ShermanMar 31, 2022
D-CAMark DeSaulnierMar 31, 2022
D-OHShontel M. BrownApr 1, 2022
D-WAMarilyn StricklandApr 4, 2022
D-RIJames R. LangevinApr 5, 2022
D-CAAlan S. LowenthalApr 21, 2022
D-IACynthia AxneApr 21, 2022
D-MNAngie CraigApr 28, 2022
D-CODiana DeGetteJul 12, 2022
D-COJason CrowJul 12, 2022
D-PAMadeleine DeanJul 27, 2022

Committees 1

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

ChamberCommitteeWhat it did
HouseWays and Means Committee
Referred Mar 16, 2022

Actions 2

Everything that happened, newest first.

  1. Mar 16, 2022Introduced in House
  2. Mar 16, 2022Referred to the House Committee on Ways and Means.

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.

Constitutional authority

Congress has the power to enact this legislation pursuant to the following: Article I, Section 8, Clause 18 (relating to the power to make all laws necessary and proper for carrying out the powers vested in Congress)

The sponsor’s statement, as printed in the Congressional Record, vol. 168, no. 47, March 16, 2022, page H3776.

CRS reports 2

Congressional Research Service work that CRS links to this bill or the law it became, newest first.

Cite it 2

Products on other subjects that cite it, usually among other measures.

Related bills 4

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 3802Big Oil Windfall Profits Tax ActRelated billMar 10, 2022
HR 7061Big Oil Windfall Profits Tax ActRelated billMar 11, 2022
HR 7103Stop Profiting Off Putin’s War ActRelated billMar 16, 2022
HR 7700People’s Prosperity ActRelated billMay 10, 2022

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 establish a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers, and for other purposes.
Short Title(s) as Introduced
Stop Gas Price Gouging Tax and Rebate Act

Subjects

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

Text 1

Each version as it was printed, newest first.

  1. Mar 16, 2022Introduced 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.