To amend the Internal Revenue Code of 1986 to impose a tax on transactions in oil futures and options and to deposit the revenues from the tax into the Highway Trust Fund.
Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009 or the LOPSIDED Oil Prices Act of 2009 - Amends the Internal Revenue Code to: (1) impose an excise tax on transactions in oil futures and options, to be paid by the trading facility on which the transactions occur or the buyer of the transactions; (2) require withholding of such tax; and (3) deposit revenues from the tax into the Highway Trust Fund. Exempts from such tax certain commercial oil traders and bona fide hedging transactions.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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