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- S.2782
S.2782: Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced March 13, 2008
- Latest Major Action March 13, 2008
Bill Sponsor
Bill Summary
Recapture Excess Profits and Invest in Roads and Rail (REPAIR) Act of 2008 - Amends the Internal Revenue Code to impose in 2008 or 2009 an excise tax of 25% on the windfall profits of integrated oil companies and other producers and refiners of crude oil (crude oil condensates and natural gasoline) with gross receipts over $1 billion. Allows a tax deduction for the payment of the windfall profit tax imposed by this Act. Requires the transfer...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| March 13, 2008 |
Introduced in the Senate by Charles E. Schumer (D-N.Y.) |