To amend the Internal Revenue Code of 1986 to impose a tax on the importation of crude oil and refined petroleum products.
Referred to the House Committee on Ways and Means.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Jan 26, 1993
Amends the Internal Revenue Code to establish a fee on crude oil and refined petroleum products imported into the United States, other than oil or products purchased for export. Imposes the fee during any week following a four-week period when the average international price of crude oil has been less than $24 per barrel. Bases the fee on the difference between $24 per barrel and the average international price of a barrel of crude oil.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.
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