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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1374 Introduced in House (IH)]

111th CONGRESS
  2d Session
H. RES. 1374

     Providing that all revenue derived from the excise tax on oil 
 production should continue to pay for the cleanup of, and the damages 
 incurred by all individuals, businesses, States, municipalities, and 
natural resources negatively impacted by, the current oil spill in the 
                 Gulf of Mexico and any future spills.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 19, 2010

 Mr. Cassidy submitted the following resolution; which was referred to 
 the Committee on Ways and Means, and in addition to the Committee on 
  Transportation and Infrastructure, 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

_______________________________________________________________________

                               RESOLUTION

 
     Providing that all revenue derived from the excise tax on oil 
 production should continue to pay for the cleanup of, and the damages 
 incurred by all individuals, businesses, States, municipalities, and 
natural resources negatively impacted by, the current oil spill in the 
                 Gulf of Mexico and any future spills.

Whereas the Oil Spill Liability Trust Fund is financed by an 8-cents-per-barrel 
        tax on oil produced domestically or imported;
Whereas the purpose of the Oil Spill Liability Trust Fund is to pay 
        uncompensated removal costs and damages resulting from oil spills to the 
        navigable waters of the United States;
Whereas the White House stated on May 12, 2010, that ``The Oil Spill Liability 
        Trust Fund ensures that there are sufficient resources available to pay 
        for clean-up and damages associated with an oil spill'';
Whereas an article in the May 14, 2010, edition of Politico stated that--

    (1) Senate ``tax writers demanded billions more from Big Oil to address 
future spills--and, well, oil the . . . budget machinery''; and

    (2) ``House tax writers are shooting [to raise] closer to $10 billion 
over the next decade to meet their budget targets'';

Whereas an article in the May 13, 2010, edition of Congressional Quarterly, 
        entitled ``Oil Companies Enter Cross Hairs as Lawmakers Seek Tax Break 
        Offsets'', reported that--

    (1) ``tax writers are considering a plan to as much as quadruple the 
size of an industrywide excise tax on oil production as they try to 
finalize a package of tax cut and economic aid extensions'';

    (2) ``targeting oil companies for tax revenue in the aftermath of the 
Gulf Coast oil spill'' would help ``pay for the costs of the tax 
`extenders' and spending bill'';

    (3) one member of the Senate Committee on Finance ``said that the 8-
cents-per-barrel excise tax, which finances the Oil Spill Liability Trust 
Fund, could be raised to between 24 and 32 cents per barrel''; and

    (4) the chairman of the Senate Committee on Finance ``confirmed that an 
increase in the excise tax was under consideration as part of the extenders 
bill'': Now, therefore, be it

    Resolved, That it is the policy of the House of Representatives 
that any revenue derived from the excise tax on oil production--
            (1) should continue to pay for the cleanup of, and the 
        damages incurred by all individuals, businesses, States, 
        municipalities, and natural resources negatively impacted by, 
        the current oil spill in the Gulf of Mexico and any future 
        spills; and
            (2) should not be used by Congress to fund unrelated 
        policies and programs.
                                 <all>
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