3.0.0 2782 2019-11-15T21:57:50Z 2019-11-15T21:57:50Z Senate S S 2008-03-13 110 ssfi00 Finance Committee Senate Standing Referred to 2008-03-14T00:19:48Z Recapture Excess Profits and Invest in Roads (REPAIR) Act of 2008 110 2761 S 2008-03-13 Read twice and referred to the Committee on Finance. Related bill CRS 2008-03-13 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2008-03-13 Introduced in Senate IntroReferral 10000 9 Library of Congress S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. N B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2008-03-13 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2008-05-01 False Taxation Commerce Corporation taxes Economics and Public Finance Energy Excess profits tax Excise tax Federal aid to transportation Government trust funds Highway finance Income tax Petroleum Petroleum industry Tax deductions Transportation and Public Works Taxation 00 2008-03-13 Introduced in Senate 2008-04-09T20:40:15Z Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008 - Amends the Internal Revenue Code to impose in 2008 or 2009 an excise tax of 25% on the windfall profits of integrated oil companies and other producers and refiners of crude oil (crude oil condensates and natural gasoline) with gross receipts over $1 billion.

Allows a tax deduction for the payment of the windfall profit tax imposed by this Act.

Requires the transfer of windfall profit tax revenues to the Highway Trust Fund.

]]> Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008 Short Titles as Introduced Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008 Display Title Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to impose a temporary windfall profit on crude oil and transfer the proceeds of the tax to the Highway Trust Fund, and for other purposes. Introduced in Senate 2008-03-13T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2782is/xml/BILLS-110s2782is.xml 2008-03-13 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.