http://www.washingtonwatch.com/bills info@washingtonwatch.com http://www.pjdoland.com/chai/?v=0.1 http://www.washingtonwatch.com/bills/history/110_HR_2480.html?rev=7546 <p>H.R. 2480 would amend the Internal Revenue Code of 1986 to suspend the Federal motor fuel excise taxes until the average price of unleaded gasoline is below $3 per gallon for at least 6 months.</p> <h2 id="toc0"> Detailed Summary </h2> <p>Gas Price Relief Act of 2007 - Amends the Internal Revenue Code to suspend certain federal motor fuel excise taxes until the average price of unleaded regular gasoline is less than $3.00 per gallon for a period of six consecutive months (suspension period). Provides for adjustments to such excise taxes for floor stocks of motor fuels held by dealers prior to or after the suspension period.</p> <p>Repeals provisions allowing a taxpayer election to expense the cost of qualified refinery property. Transfers to the Highway Trust Fund increased tax revenues resulting from such repeal.</p> <p>Requires the Federal Trade Commission (FTC) to monitor gasoline prices in the United States and to report to Congress on its findings.</p> <p>Requires the Speaker of the House of Representatives to establish a Commission on Gas Price Relief to study the causes of high oil prices.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc1"> Status of the Legislation </h2> <p>Latest Major Action: 5/24/2007: Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc2"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc3"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 7546@http://www.washingtonwatch.com Thu, 02 Aug 2007 01:48:07 EDT http://www.washingtonwatch.com/bills/history/110_HR_2480.html?rev=3466 <p>H.R. 2480 would amend the Internal Revenue Code of 1986 to suspend the Federal motor fuel excise taxes until the average price of unleaded gasoline is below $3 per gallon for at least 6 months.</p> <h2 id="toc4"> Detailed Summary </h2> <p>(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc5"> Status of the Legislation </h2> <p>Latest Major Action: 5/24/2007: Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc6"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc7"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 3466@http://www.washingtonwatch.com Mon, 02 Jul 2007 17:14:32 EDT http://www.washingtonwatch.com/bills/history/110_HR_2480.html?rev=3467 <p>H.R. 2480 would amend the Internal Revenue Code of 1986 to suspend the Federal motor fuel excise taxes until the average price of unleaded gasoline is below $3 per gallon for at least 6 months.</p> <h2 id="toc8"> Detailed Summary </h2> <p>Gas Price Relief Act of 2007 - Amends the Internal Revenue Code to suspend certain federal motor fuel excise taxes until the average price of unleaded regular gasoline is less than .00 per gallon for a period of six consecutive months (suspension period). Provides for adjustments to such excise taxes for floor stocks of motor fuels held by dealers prior to or after the suspension period.</p> <p>Repeals provisions allowing a taxpayer election to expense the cost of qualified refinery property. Transfers to the Highway Trust Fund increased tax revenues resulting from such repeal.</p> <p>Requires the Federal Trade Commission (FTC) to monitor gasoline prices in the United States and to report to Congress on its findings.</p> <p>Requires the Speaker of the House of Representatives to establish a Commission on Gas Price Relief to study the causes of high oil prices.</p> <!--Leave in the 'summary' tags if you want the latest summary from the Congressional Research Service automatically to replace the text between the tags once it becomes available. --> <h2 id="toc9"> Status of the Legislation </h2> <p>Latest Major Action: 5/24/2007: Referred to House committee. Status: Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, 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.</p> <!-- Leave in the 'status' tags if you want the latest reported status from THOMAS automatically to replace the text between the tags once it becomes available. --> <h2 id="toc10"> Points in Favor </h2> <p>(Log in to edit the wiki and be the first to show why the bill should pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> <h2 id="toc11"> Points Against </h2> <p>(Log in to edit the wiki and be the first to show why the bill should not pass!)<br /> <!-- First editor: Go ahead and take out the sentence in parentheses, and this notice! --> </p> 3467@http://www.washingtonwatch.com Mon, 02 Jul 2007 17:14:32 EDT