To amend the Internal Revenue Code of 1986 to disallow the deduction for income attributable to domestic production activities with respect to oil and gas activities of major integrated oil companies.
Big Oil Welfare Repeal Act of 2013 - Amends the Internal Revenue Code to eliminate the tax deduction for income attributable to domestic production activities for major integrated oil companies (companies that have an average daily worldwide production of crude oil of at least 500,000 barrels for a taxable year and gross receipts exceeding $1 billion for their last taxable year ending during 2005).
Referred to the Committee on Ways and Means, and in addition to the Committees on the Budget, and Agriculture, 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 Higher Education and Workforce Training.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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