3.0.0 940 2022-02-03T05:53:24Z 2022-02-08T17:27:15Z Senate S S 2011-05-10 112 Clean Energy Jobs Act of 2012 112 4108 HR 2012-03-09 Referred to the Subcommittee on Energy and Mineral Resources. Related bill CRS Close Big Oil Tax Loopholes Act 112 258 S 2011-02-02 Read twice and referred to the Committee on Finance. Related bill CRS Repeal Big Oil Tax Subsidies Act 112 2204 S 2012-03-29 Cloture on the measure not invoked in Senate by Yea-Nay Vote. 51 - 47. Record Vote Number: 63. (consideration: CR S2199; text: CR S2199) Related bill CRS 2011-05-17 Senate Motion to proceed to consideration of measure, under the order of 5/16/2011, not having achieved 60 votes in the affirmative, was withdrawn in Senate. (consideration: CR S3039) Floor 2011-05-17 Senate Motion to proceed to consideration of measure, under the order of 5/16/2011, not having achieved 60 votes in the affirmative, was rejected in Senate by Yea-Nay Vote. 52 - 48. Record Vote Number: 72. (consideration: CR S3039) Floor 72 https://www.senate.gov/legislative/LIS/roll_call_votes/vote1121/vote_112_1_00072.xml Senate 112 2011-05-17T22:24:41Z 1 2011-05-17 Senate Motion to proceed to consideration of measure by Senator Reid made in Senate. (consideration: CR S3013-3039) Floor 2011-05-11 Senate Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 42. Calendars 2011-05-10 Senate Introduced in the Senate. Read the first time. Placed on Senate Legislative Calendar under Read the First Time. Calendars 2011-05-10 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2011-05-10 True T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2011-05-10 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2011-05-10 True R000146 Sen. Reid, Harry [D-NV] HARRY REID D NV M. 2011-05-10 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2011-05-10 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2011-05-10 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2011-05-10 True L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2011-05-10 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2011-05-10 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2011-05-10 True L000123 Sen. Lautenberg, Frank R. [D-NJ] FRANK LAUTENBERG D NJ R. 2011-05-10 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2011-05-10 True B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2011-05-10 True M000702 Sen. Mikulski, Barbara A. [D-MD] BARBARA MIKULSKI D MD ANN 2011-05-10 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2011-05-10 True C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2011-05-10 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2011-05-10 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2011-05-10 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2011-05-10 True C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2011-05-10 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2011-05-10 True M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR 2011-05-10 True J000177 Sen. Johnson, Tim [D-SD] TIM JOHNSON D SD 2011-05-10 True S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2011-05-10 True S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2011-05-10 True F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2011-05-10 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2011-05-11 False C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2011-05-12 False Energy Budget deficits and national debt Energy prices Energy revenues and royalties Energy storage, supplies, demand Income tax credits Income tax deductions Marine and coastal resources, fisheries Motor fuels Oil and gas Taxation of foreign income Energy 00 2011-05-10 Introduced in Senate 2011-05-13T15:55:48Z Close Big Oil Tax Loopholes Act - Expresses the sense of the Senate that: (1) the President and Administration should be commended for recognizing the severity of high gas prices and for taking appropriate actions to help reduce gas prices; (2) Congress should take additional actions to complement the efforts of the President; (3) the Organization of Petroleum Exporting Countries (OPEC) should contribute to the stabilization of world oil markets and prices and reduce the burden of high gasoline prices by using existing idle oil production capacity to compensate for any supply shortages; and (4) U.S. economic, environmental, and national security depend on a sustained effort to reduce and eventually eliminate the dependence of the United States on oil.

Amends the Internal Revenue Code to deny to oil companies with gross receipts in excess of $1 billion in a taxable year and an average daily worldwide production of crude oil of at least 500,000 barrels a year: (1) a foreign tax credit if such company is a dual capacity taxpayer, as defined by this Act; (2) the tax deduction for income attributable to domestic production of oil, natural gas, or primary products thereof; (3) the tax deduction for intangible drilling and development costs; (4) the percentage depletion allowance for oil and gas wells; and (5) the tax deduction for qualified tertiary injectant expenses.

Amends the Energy Policy Act of 2005 to repeal the authority of the Secretary of the Interior to grant royalty relief (suspension of royalties) for natural gas production from deep wells and deep water oil and gas production in the Outer Continental Shelf.

Dedicates any increased revenue generated by this Act to the reduction of a federal budget deficit or the public debt.

Provides for compliance of the budgetary effects of this Act with the Statutory Pay-As-You-Go Act of 2010.

]]> Close Big Oil Tax Loopholes Act Short Titles as Introduced Close Big Oil Tax Loopholes Act Display Title Close Big Oil Tax Loopholes Act Official Title as Introduced A bill to reduce the Federal budget deficit by closing big oil tax loopholes, and for other purposes. Placed on Calendar Senate 2011-05-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s940pcs/xml/BILLS-112s940pcs.xml 2011-05-17 Motion to proceed to consideration of measure, under the order of 5/16/2011, not having achieved 60 votes in the affirmative, was withdrawn in Senate. (consideration: CR S3039) 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.