Climate Change Investment Act of 2006

Referred to the House Committee on Ways and Means.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Dec 7, 2006

Climate Change Investment Act of 2006 - Repeals provisions of the Internal Revenue Code allowing: (1) an election to expense the cost of certain liquid fuel processing refineries; (2) accelerated amortization of geological and geophysical expenditures; (3) a tax credit for enhanced oil recovery costs; (4) a tax credit for the production of low sulfur diesel fuel; (5) a tax credit for producing fuel from a nonconventional source; (6) a tax deduction for capital costs incurred in complying with certain sulfur regulations; (7) a tax deduction for intangible drilling and development costs for oil and gas wells and geothermal wells; and (8) tax deductions for certain oil and gas well expenditures.

Allows a business-related tax credit for investment in a greenhouse gas intensity reduction project approved by the Secretary of Energy.

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People & committees

Who introduced it

Rep. Meehan, Martin T. [D-MA-5] · D–MA

Committees

Ways and Means Committee

0 cosponsorship records, including any withdrawals

Legislative record

Actions

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Dec 7, 2006
Referred to the House Committee on Ways and Means.
Dec 7, 2006
Introduced in House
Dec 7, 2006
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 · Dec 7, 2006 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.6417 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.6417, 109th Congress: Climate Change Investment Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/house-bill/6417

Text version to examine: Introduced in House · 2006-12-07.

Official full text: https://www.congress.gov/109/bills/hr6417/BILLS-109hr6417ih.htm

Imported record last updated by the source: 2025-08-15T17:57:45Z. 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.6417 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.6417 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.6417, 109th Congress: Climate Change Investment Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/house-bill/6417

Text version to examine: Introduced in House · 2006-12-07.

Official full text: https://www.congress.gov/109/bills/hr6417/BILLS-109hr6417ih.htm

Imported record last updated by the source: 2025-08-15T17:57:45Z. 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.6417 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.6417 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.6417, 109th Congress: Climate Change Investment Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/house-bill/6417

Text version to examine: Introduced in House · 2006-12-07.

Official full text: https://www.congress.gov/109/bills/hr6417/BILLS-109hr6417ih.htm

Imported record last updated by the source: 2025-08-15T17:57:45Z. 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.6417 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.6417 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.6417, 109th Congress: Climate Change Investment Act of 2006

Official record: https://www.congress.gov/bill/109th-congress/house-bill/6417

Text version to examine: Introduced in House · 2006-12-07.

Official full text: https://www.congress.gov/109/bills/hr6417/BILLS-109hr6417ih.htm

Imported record last updated by the source: 2025-08-15T17:57:45Z. 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.6417 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.