US Congress Senate Bill 2279 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on May 1 2014 - 25% progression, died in committee
Action: 2014-05-01 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Energy Freedom and Economic Prosperity Act of 2014 - Amends the Internal Revenue Code to repeal tax credits for: (1) alcohol fuel, biodiesel, and alternative fuel mixtures; (2) alternative motor vehicles; (3) new qualified plug-in electric drive motor vehicles; (4) alcohol used as fuel; (5) enhanced oil recovery; (6) producing oil and gas from marginal wells; (7) producing electricity from advanced nuclear power facilities; (8) carbon dioxide sequestration; (9) investment in energy property; and (10) investment in qualifying advanced coal projects, qualifying gasification projects, and qualifying advanced energy projects. Directs the Secretary of the Treasury to revise the income tax rates for corporations based upon the overall revenue savings from the repeal of the energy tax expenditures by this Act and ensure that each revised rate is reduced by a uniform percentage.

Energy Freedom and Economic Prosperity Act of 2014

Sen. Mike Lee [R-UT]

Sen. Pat Toomey [R-PA]

Date	Chamber	Action
2014-05-01	Senate	Read twice and referred to the Committee on Finance.

HB259 (Related) 2013-01-15 - Referred to the House Committee on Ways and Means.
HB1569 (Related) 2013-04-15 - Referred to the House Committee on Ways and Means.
HB3895 (Related) 2014-06-20 - Referred to the Subcommittee on Readiness.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/2279/all-info
Text	https://www.congress.gov/113/bills/s2279/BILLS-113s2279is.pdf