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- H.R.2003
H.R.2003: Taxing Speculators out of the Oil Market Act
About This Bill
- This bill was introduced in the 112th Congress
- This bill is primarily about taxation
- Introduced May 26, 2011
- Latest Major Action June 8, 2011
Bill Sponsor
Bill Cosponsors
9 (All Democrats)
Bill Summary
Taxing Speculators out of the Oil Market Act - Amends the Internal Revenue Code to: (1) impose an 0.01% excise tax on transactions in oil futures, options, and swaps, to be paid by the trading facility on which the transactions occur or by the buyer of the transaction; and (2) require withholding of such tax if the buyer is a foreign person. Exempts from such tax certain commercial oil traders and bona fide hedging transactions. Amends the...
(Source: Library of Congress)
Bill Actions
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Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, 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.
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Referred to House Ways and Means
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Referred to House Agriculture
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Referred to the Subcommittee on General Farm Commodities and Risk Management.
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| May 26, 2011 |
Introduced in the House by Peter A. DeFazio (D-Ore.) |