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.
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.
Sponsor introductory remarks on measure. (CR H1986-1987)
Referred to the Subcommittee on Energy and Mineral Resources.
Referred to the Committee on Ways and Means, and in addition to the Committee on Appropriations, 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.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred 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.
Referred 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.
Referred 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.
Referred 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.
Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Referred to the Subcommittee on 21st Century Competitiveness.
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Referred to the House Committee on Ways and Means.
Referred to the Subcommittee on Education Reform.
Motion to Discharge Committee filed by Mr. Markey. Petition No: 109-12. (<a href="http://clerk.house.gov/109/lrc/pd/Petitions/Dis12.htm">Discharge petition</a> text with signatures.)
Referred to the Subcommittee on Education Reform.
Sponsor introductory remarks on measure. (CR S1346)
Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S3441)
Read twice and referred to the Committee on Finance.
Referred to the Subcommittee on Education Reform.