A bill to amend the Internal Revenue Code of 1986 to provide that oil and gas companies will not be eligible for the effective rate reductions enacted in 2004 for domestic manufacturers.
Restore a Rational Tax Rate on Petroleum Production Act of 2006 - Amends the Internal Revenue Code to deny a tax deduction for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, natural gas, or any primary product thereof.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S3712)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3714)
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line