H.R. 1569
New Fair Deal Busting America's Rigid Outdated & Needless Subsidies Act of 2013
Referred to the House Committee on Ways and Means.
Sponsor
Rep. Pompeo, Mike [R-KS-4]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- House
- Bill Type
- HR
- Bill Number
- 1,569
- Congress
- 113
- Introduced Date
- Apr 15, 2013
- Policy Area
- Taxation
- Is Law
- No
Referred to the House Committee on Ways and Means.
Source: House floor actions
Introduced in House
Source: Library of Congress
Introduced in House
Source: Library of Congress
New Fair Deal Busting America's Rigid Outdated & Needless Subsidies Act of 2013 - Amends the Internal Revenue Code to repeal: (1) the excise tax credits for alcohol fuel, biodiesel, and alternative fuel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 Secretary 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.
Ways and Means Committee
Introduced in House
Apr 15, 2013