H.R.259 - Energy Freedom and Economic Prosperity Act

To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. view all titles (2)

All Bill Titles

  • Short: Energy Freedom and Economic Prosperity Act as introduced.
  • Official: To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. as introduced.

This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.

Bill’s Views

  • Today: 3
  • Past Seven Days: 10
  • All-Time: 679
 
Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
01/15/13
 
 
 
 
 
 
 

Sponsor

Representative

Mike Pompeo

R-KS

View Co-Sponsors (37)

Official Summary

Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures; (2) the tax credits for the purchase of alternative motor vehicles and new qualified plug-in electric drive motor v

Official Summary

Energy Freedom and Economic Prosperity Act - Amends the Internal Revenue Code to repeal:
(1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures;
(2) the tax credits for the purchase of alternative motor vehicles and new qualified plug-in electric drive motor vehicles;
(3) the alternative fuel vehicle refueling property tax credit;
(4) the income tax credits for alcohol, biodiesel, and renewable diesel used as fuel;
(5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells;
(6) the tax credits for producing electricity from renewable resources and from advanced nuclear power facilities;
(7) the tax credit for carbon dioxide sequestration;
(8) the energy tax credit; and
(9) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects. Directs the Secretary of the Treasury to prescribe a flat income tax rate for corporations, in lieu of the existing marginal tax rates, based upon the overall revenue savings from the repeal of energy tax expenditures by this Act.

...Read the Rest

Organizations Supporting H.R.259

  • Americans for Tax Reform
  • Americans for Prosperity
  • Heritage Foundation

Organizations Opposing H.R.259

  • Iowa Renewable Fuels Association


Latest Letters to Congress

See All Letters (1)
 


Vote on This Bill

100% Users Support Bill

2 in favor / 0 opposed
 

Send Your Rep a Letter

about this bill Support Oppose Tracking
Track with MyOC