PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Congressional Research Service
Version 00 · Introduced in House · May 26, 2005
Amends the Internal Revenue Code to: (1) allow a tax credit for 25 percent of the cost of certain automobiles, trucks, or vans with fuel efficiency ratings of not less than 40 miles per gallon (35 percent for ratings of not less than 50 miles per gallon); (2) allow a business tax credit for the manufacture or production in the United States of qualified fuel-efficient automobiles for first retail sale; (3) make permanent the tax credit for increasing research activities; and (4) increase the rates of the alternative incremental tax credit for research activities.
Authorizes the Secretary of Energy to provide loan guarantees up to $100 million per loan (up to $1 billion aggregate) to automobile manufacturers for the cost of converting to automobiles with a fuel efficiency rating of more than 40 miles per gallon.
Prohibits the Administrator of the Environmental Protection Agency (EPA) from considering any automobile allowed a fuel-efficiency tax credit under this Act in calculating the average fuel economy of a manufacturer.
People & committees
Rep. Engel, Eliot L. [D-NY-17] · D–NY
Legislative record
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Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Referred to the Subcommittee on Energy and Air Quality, for a period to be subsequently determined by the Chairman.
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Energy and Commerce, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Energy and Commerce, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Energy and Commerce, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Energy and Commerce, 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.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Jan 15, 2025. Consult Congress.gov for the current record.
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Analyze H.R.2665 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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