H.R. 3379 · 111th Congress
Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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DeFazioSponsor30 cosponsors · 30 D
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Boswell
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Baird
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Costello
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Cummings
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Capuano
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Filner
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Hinchey
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Hirono
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Kildee
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Lipinski
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Miller
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Norton
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Perriello
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Slaughter
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Blumenauer28 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009 or the LOPSIDED Oil Prices Act of 2009 - Amends the Internal Revenue Code to: (1) impose an excise tax on transactions in oil futures and options, to be paid by the trading facility on which the transactions occur or the buyer of the transactions; (2) require…
What it does: CRS summary · Introduced in House · Jul 29, 2009
Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009 or the LOPSIDED Oil Prices Act of 2009 - Amends the Internal Revenue Code to: (1) impose an excise tax on transactions in oil futures and options, to be paid by the trading facility on which the transactions occur or the buyer of the transactions; (2) require withholding of such tax; and (3) deposit revenues from the tax into the Highway Trust Fund. Exempts from such tax certain commercial oil traders and bona fide hedging transactions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Lowering Oil Price Speculation for Infrastructure Dedicated to Economic Development Act of 2009
Also known as: LOPSIDED Oil Prices Act of 2009
Latest action (Jul 29, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 29, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.