OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

S 2204 - Amends Energy-Related Tax Credits - National Key Vote

Timeline

Related Issues

Stage Details

See How Your Politicians Voted

Title: Amends Energy-Related Tax Credits

Vote Smart's Synopsis:

Vote on a motion to invoke cloture on a bill that repeals tax deductions for major integrated oil companies.

Highlights:

  • Defines “major integrated oil company” as a crude oil producer that meets the following criteria in a taxable year (Secs. 202-205):
    •  Average daily worldwide production of crude oil of at least 500,000 barrels; and
    •  Gross receipts exceeding $1 billion.
  • Extends tax credits and other incentives for certain energy products, production and investment including, but not limited, to the following (Secs. 101-104, 106-113 & 115-116):
    •  “Energy-efficient” homes;
    •   Qualified plug-in electric vehicles;
    •   The production of biodiesel, renewable diesel, and refined coal; and
    •   The production of alternative fuels.
  • Repeals provisions authorizing claims for royalty relief for “deep water” and “deep gas” production (Sec. 211).
  • Appropriates savings that result from the provisions of this act to the reduction of the federal deficit (Sec. 301).

NOTE: INVOKING CLOTURE REQUIRES A 3/5 MAJORITY OF THE SENATE. IT IS NOT A VOTE ON THE PASSAGE OF THE PIECE OF LEGISLATION, BUT LIMITS FURTHER DEBATE TO 30 HOURS. CLOTURE IS TYPICALLY USED TO END A FILIBUSTER. A FAILED CLOTURE VOTE OFTEN PREVENTS THE LEGISLATION FROM EVER COMING TO A VOTE.

Full Bill Text

arrow_upward