3.0.0 1001 2023-01-11T13:28:43Z 2023-01-11T13:28:43Z House HR 2015-02-13 114 [Congressional Record Volume 161, Number 25 (Friday, February 13, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. POMPEO:H.R. 1001.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3[Page H1071]]]> hswm00 Ways and Means Committee House Standing Referred to 2015-02-13T14:04:05Z 2015-02-13 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2015-02-13 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-02-13 Introduced in House IntroReferral 1000 9 Library of Congress P000602 Rep. Pompeo, Mike [R-KS-4] Mike Pompeo R KS 4 N J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2015-02-13 True R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2015-02-13 True D000621 Rep. DeSantis, Ron [R-FL-6] Ron DeSantis R FL 6 2015-02-13 True A000367 Rep. Amash, Justin [R-MI-3] Justin Amash R MI 3 2015-02-13 True Taxation Air quality Alternative and renewable resources Climate change and greenhouse gases Coal Corporate finance and management Electric power generation and transmission Hybrid, electric, and advanced technology vehicles Income tax credits Income tax rates Motor fuels Nuclear power Oil and gas Sales and excise taxes Taxation 00 2015-02-13 Introduced in House 2015-03-26T14:18:59Z Energy Freedom and Economic Prosperity Act

Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel mixtures; (2) the tax credits for the purchase of alternative motor vehicles and new qualified plug-in electric drive motor vehicles; (3) the alternative fuel vehicle refueling property tax credit; (4) the income tax credits for alcohol, biodiesel, and renewable diesel used as fuel; (5) the enhanced oil recovery tax credit and the tax credit for producing oil and gas from marginal wells; (6) the tax credits for producing electricity from renewable resources and from advanced nuclear power facilities; (7) the tax credit for carbon dioxide sequestration; (8) the energy tax credit; and (9) the tax credits for investment in qualifying advanced coal projects and qualifying gasification projects.

Directs the Department of the Treasury to prescribe a flat income tax rate for corporations, in lieu of the existing marginal tax rates, based upon the overall revenue savings from the repeal of energy tax expenditures by this Act.

]]> Energy Freedom and Economic Prosperity Act Display Title Energy Freedom and Economic Prosperity Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. Introduced in House IH Short Titles as Introduced Energy Freedom and Economic Prosperity Act Introduced in House 2015-02-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr1001ih/xml/BILLS-114hr1001ih.xml 2015-02-13 Referred to the House Committee on Ways and Means. 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.