HR 2070 · 109th Congress · Energy

Gas Price Spike Act of 2005

Introduced 2005-05-04· Sponsored by Rep. Kucinich, Dennis J. [D-OH-10]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Sponsor introductory remarks on measure. (CR H1986-1987)(2006-05-03)

Plain Language Summary

[AI summary unavailable — showing source text] Gas Price Spike Act of 2005 - Amends the Internal Revenue Code to impose a windfall profit tax on crude oil, natural gas, or products of crude oil or natural gas. Defines "windfall profit" as so much of the profit on a sale of crude oil, natural gas, or related products as exceeds a reasonable profit. Establishes the Reasonable Profits Board to determine levels of reasonable profit from the sale of such products. Allows a tax credit for the purchase of certain fuel-efficient, American-made passenger vehicles. Authorizes the Secretary of Transportation to make grants to operators of mass transit systems, including bus and commuter rail systems, to reduce passenger fares on such systems.…

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

Cosponsors (20)

19 Democrats1 Independent
Rep. Serrano, Jose E. [D-NY-16]NY
Rep. Abercrombie, Neil [D-HI-1]HI
Rep. DeFazio, Peter A. [D-OR-4]OR
Rep. Frank, Barney [D-MA-4]MA
Rep. McDermott, Jim [D-WA-7]WA
Rep. Solis, Hilda L. [D-CA-32]CA
Rep. Filner, Bob [D-CA-51]CA
Rep. Carson, Julia [D-IN-7]IN
Rep. Grijalva, Raúl M. [D-AZ-7]AZ
Rep. Lantos, Tom [D-CA-12]CA
Rep. Lee, Barbara [D-CA-9]CA
Rep. McGovern, James P. [D-MA-3]MA
Rep. McKinney, Cynthia A. [D-GA-4]GA
Rep. Woolsey, Lynn C. [D-CA-6]CA
Rep. Owens, Major R. [D-NY-11]NY
Rep. Strickland, Ted [D-OH-6]OH
Rep. Conyers, John, Jr. [D-MI-14]MI
Rep. Davis, Danny K. [D-IL-7]IL
Rep. Sanders, Bernard [I-VT-At Large]VT
Rep. Farr, Sam [D-CA-17]CA