I 
110TH CONGRESS 
2D SESSION 
H. R. 6000 
To amend the Internal Revenue Code of 1986 to impose a windfall profit 
tax on oil and natural gas (and products thereof) and to allow an 
income tax credit for purchases of fuel-efficient passenger vehicles, and 
to allow grants for mass transit. 
IN THE HOUSE OF REPRESENTATIVES 
MAY 8, 2008 
Mr. KUCINICH (for himself, Mr. ABERCROMBIE, Mr. BERMAN, Mr. BRADY of 
Pennsylvania, Mrs. CAPPS, Mr. CLAY, Mr. CLEAVER, Mr. COHEN, Mr. 
CONYERS, Mr. CUMMINGS, Mr. DAVIS of Illinois, Mr. DEFAZIO, Mr. 
DELAHUNT, Mr. DOYLE, Mr. ELLISON, Mr. FARR, Mr. FATTAH, Mr. 
FILNER, Mr. FRANK of Massachusetts, Mr. GRIJALVA, Mr. GUTIERREZ, 
Mr. HARE, Mr. HASTINGS of Florida, Mr. HINCHEY, Ms. HIRONO, Mr. 
HONDA, Mr. JACKSON of Illinois, Ms. EDDIE BERNICE JOHNSON of 
Texas, Mr. KANJORSKI, Ms. KAPTUR, Mr. KENNEDY, Mr. KILDEE, Ms. 
KILPATRICK, Mr. LARSON of Connecticut, Ms. LEE, Mr. LEWIS of Geor-
gia, Mr. LIPINSKI, Mrs. LOWEY, Mr. MCDERMOTT, Mr. MCGOVERN, Mr. 
MCNULTY, Mr. GEORGE MILLER of California, Ms. MOORE of Wisconsin, 
Mr. NADLER, Mrs. NAPOLITANO, Mr. OLVER, Mr. PAYNE, Mr. RAHALL, 
Mr. ROTHMAN, Mr. RYAN of Ohio, Ms. LINDA T. SA´NCHEZ of California, 
Ms. SCHAKOWSKY, Mr. SCOTT of Virginia, Mr. SERRANO, Mr. SHERMAN, 
Ms. SLAUGHTER, Mr. STARK, Mr. STUPAK, Ms. SUTTON, Mr. TIERNEY, 
Mr. TOWNS, Ms. WATSON, Mr. WAXMAN, Mr. WEXLER, Ms. WOOLSEY, 
Mr. YARMUTH, and Ms. ROYBAL-ALLARD) introduced the following bill; 
which was referred to the Committee on Ways and Means, and in addi-
tion to the Committee on Transportation and Infrastructure, for a period 
to be subsequently determined by the Speaker, in each case for consider-
ation of such provisions as fall within the jurisdiction of the committee 
concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to impose 
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a windfall profit tax on oil and natural gas (and products 
thereof) and to allow an income tax credit for purchases 
of fuel-efficient passenger vehicles, and to allow grants 
for mass transit. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Gas Price Spike Act 
of 2008’’. 
SEC. 2. WINDFALL PROFITS TAX. 
(a) IN GENERAL.—Subtitle E of the Internal Rev-
enue Code of 1986 (relating to alcohol, tobacco, and cer-
tain other excise taxes) is amended by adding at the end 
thereof the following new chapter: 
‘‘CHAPTER 
56—WINDFALL 
PROFIT 
ON 
CRUDE OIL, NATURAL GAS, AND PROD-
UCTS THEREOF 
‘‘Sec. 5896. Imposition of tax. 
‘‘SEC. 5896. IMPOSITION OF TAX. 
‘‘(a) IN GENERAL.—In addition to any other tax im-
posed under this title, there is hereby imposed an excise 
tax on the sale in the United States of any crude oil, nat-
ural gas, or other taxable product a tax equal to the appli-
cable percentage of the windfall profit on such sale. 
‘‘(b) DEFINITIONS.—For purposes of this section— 
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‘‘(1) TAXABLE
PRODUCT.—The term ‘taxable 
product’ means any fuel which is a product of crude 
oil or natural gas. 
‘‘(2) WINDFALL PROFIT.—The term ‘windfall 
profit’ means, with respect to any sale, so much of 
the profit on such sale as exceeds a reasonable prof-
it. 
‘‘(3) APPLICABLE
PERCENTAGE.—The term 
‘applicable percentage’ means— 
‘‘(A) 50 percent to the extent that the 
profit on the sale exceeds 100 percent of the 
reasonable profit on the sale but does not ex-
ceed 102 percent of the reasonable profit on the 
sale, 
‘‘(B) 75 percent to the extent that the 
profit on the sale exceeds 102 percent of the 
reasonable profit on the sale but does not ex-
ceed 105 percent of the reasonable profit on the 
sale, and 
‘‘(C) 100 percent to the extent that the 
profit on the sale exceeds 105 percent of the 
reasonable profit on the sale. 
‘‘(4) REASONABLE PROFIT.—The term ‘reason-
able profit’ means the amount determined by the 
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Reasonable Profits Board to be a reasonable profit 
on the sale. 
‘‘(c) LIABILITY FOR PAYMENT OF TAX.—The taxes 
imposed by subsection (a) shall be paid by the seller.’’. 
(b) CLERICAL AMENDMENT.—The table of chapters 
for subtitle E of such Code is amended by adding at the 
end the following new item: 
‘‘CHAPTER 56. WINDFALL PROFIT ON CRUDE OIL AND REFINED 
PETROLEUM PRODUCTS.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall take effect on the date of the enactment 
of this Act. 
SEC. 3. CREDIT FOR PURCHASING FUEL EFFICIENT AMER-
ICAN-MADE PASSENGER VEHICLES. 
(a) IN GENERAL.—Subpart A of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of 
1986 (relating to nonrefundable personal credits) is 
amended by inserting after section 25B the following new 
section: 
‘‘SEC. 25C. PURCHASE OF FUEL-EFFICIENT AMERICAN- 
MADE PASSENGER VEHICLES. 
‘‘(a) IN GENERAL.—In the case of an individual, 
there shall be allowed as a credit against the tax imposed 
by this chapter for the taxable year an amount equal to 
the cost of any qualified passenger vehicle purchased by 
the taxpayer during the taxable year. 
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‘‘(b) MAXIMUM CREDIT.— 
‘‘(1) IN GENERAL.—The credit allowed by this 
section for the taxable year shall be— 
‘‘(A) $3,000 in the case of a qualified pas-
senger vehicle not described in subparagraph 
(B) or (C) if the vehicle’s fuel economy is with-
in the 10 percent most fuel efficient range, 
‘‘(B) $4,500 in the case of a qualified pas-
senger vehicle not described in subparagraph 
(C) if the vehicle’s fuel economy is within the 
5 percent most fuel efficient range, and 
‘‘(C) $6,000 in the case of a qualified pas-
senger vehicle the fuel economy of which is at 
least 65 miles per gallon. 
‘‘(2) DETERMINATION OF RANGES.— 
‘‘(A) IN GENERAL.—A vehicle sold during 
a calendar year is within the 10 percent most 
fuel efficient range if the fuel economy for such 
vehicle is equal to or greater than the lowest 
fuel economy of a vehicle included in the group 
consisting of the 10 percent of the vehicles sold 
during the preceding calendar year with the 
highest fuel economy. A similar rule shall be 
applied to determine the 5 percent most fuel ef-
ficient range. 
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‘‘(B) SEPARATE DETERMINATION.—The 5 
and 10 percent most fuel efficient ranges shall 
be determined separately for— 
‘‘(i) trucks and sport utility vehicles 
as a group, and 
‘‘(ii) other qualified vehicles as a 
group. 
‘‘(C) RANGES TO BE PUBLISHED BEFORE 
BEGINNING OF YEAR.—Before the beginning of 
each calendar year, the Secretary shall publish 
in the Federal Register the 5 and 10 percent 
most fuel efficient ranges which apply for such 
calendar year. In the case of ranges for cal-
endar year 2008, such ranges shall be published 
as soon as possible. 
‘‘(c) QUALIFIED PASSENGER VEHICLE.—For pur-
poses of this section— 
‘‘(1) IN GENERAL.—The term ‘qualified auto-
mobile’ means any automobile (as defined in section 
4064(b))— 
‘‘(A) which is purchased after the date of 
the enactment of this section, 
‘‘(B) which is assembled in the United 
States by individuals employed under a collec-
tive bargaining agreement, 
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(i) FUNDING.—There are authorized to be appro-
priated such funds as are necessary to carry out this sec-
tion. 
Æ 
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