3.0.0 2956 2023-01-11T13:24:19Z 2023-01-11T13:24:19Z House H HR 2013-08-01 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MURPHY of Florida:H.R. 2956.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1: The Congress shall havePower to lay and collect taxes on incomes, from whateversource derived and collect Taxes, Duties, Imposts andExcises, to pay the Debts and provide for the common Defenseand general Welfare of the United States; but all Duties,Imposts and Excises shall be uniform throughout the UnitedStates.[Page H5347]]]> hsii00 Natural Resources Committee House Standing hsii06 Energy and Mineral Resources Subcommittee Referred to 2013-08-09T19:50:02Z Referred to 2013-08-01T14:11:10Z hswm00 Ways and Means Committee House Standing Referred to 2013-08-01T14:11:05Z Permanent Repeal of Oil Subsidies Act 113 601 HR 2013-02-21 Referred to the Subcommittee on Energy and Mineral Resources. Related bill CRS Stop the Sequester Job Loss Now Act 113 699 HR 2013-03-01 Referred to the Subcommittee on General Farm Commodities and Risk Management. Related bill CRS Medical Device Tax Elimination Act 113 1295 HR 2013-03-20 Referred to the House Committee on Ways and Means. Related bill CRS Job Preservation and Economic Certainty Act of 2013 113 277 S 2013-02-11 Read twice and referred to the Committee on Finance. Related bill CRS Job Preservation and Sequester Replacement Act of 2013 113 278 S 2013-02-11 Read twice and referred to the Committee on Finance. Related bill CRS Close Big Oil Tax Loopholes Act 113 307 S 2013-02-13 Read twice and referred to the Committee on Finance. Related bill CRS Sustainable Energy Act 113 329 S 2013-02-14 Read twice and referred to the Committee on Finance. Related bill CRS 2013-08-09 hsii06 Energy and Mineral Resources Subcommittee 1 House committee actions Referred to the Subcommittee on Energy and Mineral Resources. Committee 2013-08-01 Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsii00 Natural Resources Committee 2013-08-01 Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2013-08-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-08-01 Introduced in House IntroReferral 1000 9 Library of Congress M001191 Rep. Murphy, Patrick [D-FL-18] Patrick Murphy D FL 18 N B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2013-08-01 True E000293 Rep. Esty, Elizabeth H. [D-CT-5] Elizabeth Esty D CT H. 5 2013-08-01 True B001279 Rep. Barber, Ron [D-AZ-2] Ron Barber D AZ 2 2013-08-01 True C001066 Rep. Castor, Kathy [D-FL-14] Kathy Castor D FL 14 2013-08-02 False B000911 Rep. Brown, Corrine [D-FL-5] CORRINE BROWN D FL 5 2013-08-02 False P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2013-08-02 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2013-10-10 False M000312 Rep. McGovern, James P. [D-MA-2] JAMES MCGOVERN D MA P. 2 2013-10-10 False Taxation Budget deficits and national debt Energy revenues and royalties Gulf of Mexico Income tax credits Income tax deductions Marine and coastal resources, fisheries Oil and gas Taxation of foreign income Taxation 00 2013-08-01 Introduced in House 2013-08-29T20:36:26Z End Welfare for Big Oil Act of 2013 - Amends the Internal Revenue Code to limit or repeal certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels or certain successors in interest of such companies), including: (1) the foreign tax credit for companies that are dual capacity taxpayers; (2) the tax deduction for income attributable to the production, transportation, or distribution 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 royalty relief (suspension of royalties) for: (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico; and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes west longitude).

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

]]> End Welfare for Big Oil Act of 2013 Display Title End Welfare for Big Oil Act of 2013 Official Title as Introduced To eliminate unnecessary oil tax credits and subsidies for major oil companies to reduce the national debt. Introduced in House IH Short Titles as Introduced End Welfare for Big Oil Act of 2013 Introduced in House 2013-08-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr2956ih/xml/BILLS-113hr2956ih.xml 2013-08-09 Referred to the Subcommittee on Energy and Mineral Resources. 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.