H.R. 5906 · 112th Congress
To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PolisSponsor9 cosponsors · 9 D
D
Capuano
SD
D
Davis
RK
D
Kind
BM
D
McCollum
WO
D
Owens
MR
D
Ross
BS
D
Sherman
EP
D
Perlmutter
NT
D
Tsongas7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to: (1) repeal the excise tax on medical devices; (2) exclude from the gross receipts of major integrated oil companies (defined as companies with an average daily worldwide production of crude oil of at least 500,000 barrels and gross receipts in excess of $1 billion), for purposes of the tax deduction for income…
What it does: CRS summary · Introduced in House · Jun 7, 2012
Amends the Internal Revenue Code to: (1) repeal the excise tax on medical devices; (2) exclude from the gross receipts of major integrated oil companies (defined as companies with an average daily worldwide production of crude oil of at least 500,000 barrels and gross receipts in excess of $1 billion), for purposes of the tax deduction for income attributable to domestic production activities, receipts from the production, transportation, or distribution of oil, natural gas, or any primary product thereof; and (3) prohibit the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.
Latest action (Jun 7, 2012): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 7, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.