Affordable Gas Price Act

To reduce the price of gasoline by allowing for offshore drilling, eliminating Federal obstacles to constructing refineries and providing incentives for investment in refineries, suspending Federal fuel taxes when gasoline prices reach a benchmark amount, and promoting free trade.

5/21/2007--Introduced.
Affordable Gas Price Act - Declares without force or effect all provisions of existing federal law that prohibit spending appropriated funds to conduct oil or natural gas leasing and preleasing activities for any area of the Outer Continental Shelf. Revokes all existing withdrawals by the President under the authority of the Outer Continental Shelf Lands Act. Amends the Alaska National Interest Lands Conservation Act to repeal:
(1) the withdrawal of public lands within the Coastal Plain from entry or appropriation under federal mining or mineral leasing laws; and
(2) the prohibition against the production, leasing, and development of oil and gas from the Arctic National Wildlife Refuge (ANWR). Amends the National Environmental Policy Act of 1969 to shield from judicial review mandatory statements by certain federal officials regarding the environmental impact of federal actions upon the quality of the human environment. Amends the Internal Revenue Code to:
(1) set forth additional incentives for investment in oil refineries;
(2) suspend the tax on highway motor fuels when retail gasoline exceeds a certain benchmark; and
(3) increase mileage reimbursement rates. Authorizes the President to extend normal trade relations treatment to the products of the Russian Federation and Kazakhstan.


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Sponsor

• Rep. Ronald Paul [R, TX-14]

Committees

• House Financial Services
• 3 more
  • House Ways and Means
  • House Natural Resources
  • House Natural Resources
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Amendments

This bill has no amendments.

Amendments to H.R.2415

Number	Status	Purpose

Bill Status

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Introduced		Voted on by House		Voted on by Senate		Considered By President		Bill Becomes Law
May 21, 2007

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All Bill Actions

• May 30, 2007: Referred to the Subcommittee on Energy and Mineral Resources.
• May 21, 2007: Referred to House Financial Services
• May 21, 2007: Referred to House Natural Resources
• May 21, 2007: Referred to House Ways and Means
• May 21, 2007: Referred to the Committee on Ways and Means, and in addition to the Committees on Natural Resources, and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
• May 21, 2007: Sponsor introductory remarks on measure. (CR E1107)
• Introduced on May 21, 2007.

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Related Issue Areas:

• Energy
• Alaska
• Animals
• Appropriations
• 41 more
• Budgets
• Building construction
• Business
• Central Asia
• Congressional reporting requirements
• Continental shelf
• Depreciation and amortization
• Economic policy
• Energy development
• Energy prices
• Environmental assessment
• Environmental protection
• Excise tax
• Gas in submerged lands
• Gasoline
• Government trust funds
• Governmental investigations
• Judicial review
• Kazakhstan
• Law
• Marine resources
• Mining engineering
• Mining leases
• Monetary policy
• Natural gas
• Natural resources
• Normal trade relations
• Oil and gas leases
• Petroleum
• Petroleum in submerged lands
• Petroleum refineries
• Prospecting
• Public lands
• Russia
• Tax credits
• Tax deductions
• Tax exemption
• Taxation
• Trade
• Travel costs
• Wildlife refuges

Data from the Congressional Research Service

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