H.R.5800 - Consumer Reasonable Energy Price Protection Act of 2008

To amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas (and products thereof) and to appropriate the proceeds for the Low-Income Home Energy Assistance Program. view all titles (2)

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  • Short: Consumer Reasonable Energy Price Protection Act of 2008 as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to impose a windfall profit tax on oil and natural gas (and products thereof) and to appropriate the proceeds for the Low-Income Home Energy Assistance Program. as introduced.

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Bill's Views

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  • Past Seven Days: 5
  • All-Time: 1,992
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
04/14/08
 
 
 
 
 
 
 

Official Bill Text Comment on about 7 Pages

Sponsor

Paul Kanjorski

D-

No Co-Sponsors

Official Summary

4/15/2008--Introduced.Consumer Reasonable Energy Price Protection Act of 2008 - Amends the Internal Revenue Code to impose a windfall profit tax on crude oil, natural gas, or fuel which is the product of crude oil or natural gas. Defines "windfall profit" as so much of the profit
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Official Summary

4/15/2008--Introduced.
Consumer Reasonable Energy Price Protection Act of 2008 - Amends the Internal Revenue Code to impose a windfall profit tax on crude oil, natural gas, or fuel which is the product of crude oil or natural gas. Defines "windfall profit" as so much of the profit as exceeds a reasonable profit. Establishes a Reasonable Profits Board to determine reasonable profit. Dedicates the proceeds of such tax to the low-income home energy assistance program.


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Recent News Coverage

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04/29/08
Kanjorski bill would tax windfall oil and gas industry profits

WILKES-BARRE - Congressman Paul E. Kanjorski (D-11) announced his introduction of HR 5800, the Consumer Reasonable Energy Price Protection Act of 2008. ...

Source: PoconoNews.net, New York
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Recent Blog Coverage

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08/02/08
Political and Social News, Views, and Clues: PA Rep Paul Kanjorski ...

I introduced H.R. 5800, the Consumer Reasonable Energy Price Protection Act. This legislation would impose a windfall profits tax to create an incentive for oil companies to keep prices low for consumers. ...

Source: Political and Social News, Views, and Clues
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07/09/08
Credit unions, banks join forces for now - Victoria McGrane ...

H.R. 5800 would tax industries’ windfall profits. • The bill would set up a Reasonable Profits Board to determine when these companies’ profits are in excess, and then tax them on those windfall profits. ...

Source: Ben Smith's Blogs
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06/10/08
26 new messages in 19 topics - digest

HR 5800 : Consumer Reasonable Energy Price Protection Act of 2008. : SEC. 3. REASONABLE PROFITS BOARD. : (a) Establishment- There is established an independent board to : be known as the `Reasonable Profits Board' (hereafter in this ...

Source: Why me?
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