Bill113th Congress

H.R. 259

Energy Freedom and Economic Prosperity Act

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Introduced
Jan 15, 2013
Origin Chamber
House
Policy Area
Taxation
Latest Action
Jan 15, 2013

Sponsor

Rep. Pompeo, Mike [R-KS-4]

Republican·KS-4
Bioguide ID: P000602
First Name: Mike
Last Name: Pompeo
By Request: N
39
Cosponsors
1
Committees
3
Actions
0
Amendments
3
Related Bills
13
Subjects
1
Summaries
3
Titles
1
Text Versions

Bill Details

Update Date
Nov 15, 2022
Origin Chamber
House
Bill Type
HR
Bill Number
259
Congress
113
Introduced Date
Jan 15, 2013
Policy Area
Taxation
Is Law
No
Jan 15, 2013IntroReferralH11100

Referred to the House Committee on Ways and Means.

Source: House floor actions

Jan 15, 2013IntroReferralIntro-H

Introduced in House

Source: Library of Congress

Jan 15, 2013IntroReferral1000

Introduced in House

Source: Library of Congress

Introduced in House· Jan 15, 20130

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 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

House· Standing
Air qualityAlternative and renewable resourcesClimate change and greenhouse gasesCoalCorporate finance and managementElectric power generation and transmissionHybrid, electric, and advanced technology vehiclesIncome tax creditsIncome tax ratesMotor fuelsNuclear powerOil and gasSales and excise taxes

Introduced in House

Jan 15, 2013

Energy Freedom and Economic Prosperity Act — Informed