Gas Rebate Act of 2012

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Mar 21, 2012

Gas Rebate Act of 2012 - Amends the Internal Revenue Code to repeal certain tax incentives for oil and gas companies, including: (1) the tax credit for enhanced oil recovery, (2) the tax credit for producing oil and gas from marginal wells, (3) the expensing allowance for intangible drilling and development costs, (4) the tax deduction for tertiary injectant expenses, (5) the exception to passive loss limitations for working interests in oil and gas properties, and (6) percentage depletion for oil and gas wells.

Denies a tax deduction for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, gas, or any primary product thereof. Extends to seven years the required amortization period for geological and geophysical expenditures.

Allows registered motor vehicle owners a rebate against income tax based on their share of revenues saved from the repeal of the tax incentives for oil and gas companies by this Act.

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People & committees

Who introduced it

Rep. Yarmuth, John A. [D-KY-3] · D–KY

Committees

Ways and Means Committee

17 cosponsorship records, including any withdrawals

Legislative record

Actions

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Mar 21, 2012
Referred to the House Committee on Ways and Means.
Mar 21, 2012
Introduced in House
Mar 21, 2012
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Mar 21, 2012 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

HR 1959 · Pain at the Pump Act

Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.

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Objective

Analyze H.R.4231 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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Discuss H.R.4231, 112th Congress: Gas Rebate Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4231

Text version to examine: Introduced in House · 2012-03-21.

Official full text: https://www.congress.gov/112/bills/hr4231/BILLS-112hr4231ih.htm

Imported record last updated by the source: 2025-08-14T14:19:02Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.4231 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.

Fairness and public impact

Progressive lens

Examine H.R.4231 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.4231, 112th Congress: Gas Rebate Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4231

Text version to examine: Introduced in House · 2012-03-21.

Official full text: https://www.congress.gov/112/bills/hr4231/BILLS-112hr4231ih.htm

Imported record last updated by the source: 2025-08-14T14:19:02Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.4231 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.4231 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Discuss H.R.4231, 112th Congress: Gas Rebate Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4231

Text version to examine: Introduced in House · 2012-03-21.

Official full text: https://www.congress.gov/112/bills/hr4231/BILLS-112hr4231ih.htm

Imported record last updated by the source: 2025-08-14T14:19:02Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.4231 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.4231 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.4231, 112th Congress: Gas Rebate Act of 2012

Official record: https://www.congress.gov/bill/112th-congress/house-bill/4231

Text version to examine: Introduced in House · 2012-03-21.

Official full text: https://www.congress.gov/112/bills/hr4231/BILLS-112hr4231ih.htm

Imported record last updated by the source: 2025-08-14T14:19:02Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.4231 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.