A bill to amend the Internal Revenue Code of 1986 to provide a tax credit against residential heating costs.
Commerce Secretary Howard Lutnick Testifies on Budget
Apr 23, 2026
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Home Energy Assistance Act of 2005 - Amends the Internal Revenue Code to allow a tax credit for residential heating costs paid in 2006. Allows a maximum credit of $500, but reduces or eliminates such credit for taxpayers at higher income levels.
Requires integrated oil companies with gross receipts in excess of $1 billion to use the first-in, first-out (FIFO) inventory accounting method for purposes of determining their current federal income tax liabilities.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S12613-12614)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S12614)
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