PlainBillCongress, translated.Legislation. Context. Public interest.Sponsor introductory remarks on measure. (CR S10992-10993)
Congressional Research Service
Version 00 · Introduced in Senate · Sep 27, 2000
Windfall Oil Profits For Heating Assistance Act of 2000 - Amends the Internal Revenue Code to impose an excise tax on the windfall profit from removed domestic crude oil (and products thereof) at a rate equal to 100 percent of such windfall profit. Defines "windfall profit" as, with respect to any removal of crude oil or taxable product, so much of the profit on such removal as exceeds a reasonable profit.Directs the Federal Trade Commission to investigate the profits of the oil industry and make reasonable profit determinations. Authorizes appropriations.Establishes the Windfall Oil Profits Trust Fund consisting amounts equivalent to the taxes received pursuant to the excise tax established by this Act. Provides for expenditures from the Fund for heating assistance to consumers and small businesses.
People & committees
Sen. Leahy, Patrick J. [D-VT] · D–VT
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Sponsor introductory remarks on measure. (CR S10992-10993)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S9385-9386)
Sponsor introductory remarks on measure. (CR S9384-9385)
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.3118 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.
Examine S.3118 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.
Examine S.3118 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.
Examine S.3118 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.