HR 1642 · 100th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase the depletion allowance for oil and natural gas.

Introduced 1987-03-17· Sponsored by Rep. Edwards, Mickey [R-OK-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1987-03-17)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the percentage depletion allowance for oil and natural gas from 15 percent to 27 1/2 percent.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (10)

4 Democrats6 Republicans
Rep. Watkins, Wes [D-OK-3]OK
Rep. Inhofe, James M. [R-OK-1]OK
Rep. Livingston, Bob [R-LA-1]LA
Rep. Wilson, Charles [D-TX-2]TX
Rep. Bentley, Helen Delich [R-MD-2]MD
Rep. Barton, Joe [R-TX-6]TX
Rep. Combest, Larry [R-TX-19]TX
Rep. Boulter, Beau [R-TX-13]TX
Rep. English, Glenn [D-OK-6]OK
Rep. Frost, Martin [D-TX-24]TX