H.Con.Res 112, Expressing the Sense of Congress opposing the President’s proposed $10 tax on every barrel of oil

H.Con.Res. 112

Expressing the Sense of Congress opposing the President’s proposed $10 tax on every barrel of oil

Committee
Ways and Means

Date
June 9, 2016 (114th Congress, 2nd Session)

Staff Contact
Communications

Floor Situation

On Thursday, June 9, 2016, the House will begin consideration of H.Con.Res.112, expressing the sense of Congress opposing the President’s proposed $10 tax on every barrel of oil, under a rule. The bill was introduced on February 9, 2016, by Rep. Charles Boustany (R-LA) and was referred to the Committee on Ways and Means.

Bill Summary

H.Con.Res 112 expresses the sense of Congress opposing the President’s proposed $10 tax on every barrel of oil and urges Congress, when considering a tax policy change, to review the detrimental impacts such a change would place on industries facing economic difficulties.

 

Background

In the President’s 2017 budget request, President Obama offered a tax hike of $10.25 on every barrel of oil. According to public reports, this would increase the cost of a barrel of oil by approximately 30% and result in an increase of approximately 25 cents per gallon of gasoline for consumers.[1] The current federal tax on gasoline is 18.40 cents. The additional “fee” would be a surcharge paid by oil companies to fund more than $300 billion worth of investments over the next decade in mass transit, high-speed rail, self-driving cars, and other transportation approaches designed to reduce carbon emissions and congestion.[2]

According to the bill’s sponsor, the proposed oil tax is “just another attack by the Obama White House on American energy.  These proposals must be stopped or families will pay more at the pump, face higher energy bills, and higher costs for everyday goods and services. We cannot sit by and allow this President to fund his anti-energy agenda out of the pockets of our hardworking men and women. That is why I am pushing House leadership to expedite the process to consider these measures and send a strong message to the President that Congress is fighting back.”[3]

—————-
[1] See Rep. Boustany’s Press Release, “Boustany Demands Expedited Consideration for Anti-Oil Tax Resolutions” April 18, 2016.
[2] See Politico, “Obama to propose $10-a-barrel oil tax” February 4, 2016.
[3] See Rep. Boustany’s Press Release, “Boustany Demands Expedited Consideration for Anti-Oil Tax Resolutions” April 18, 2016.

Cost

A Congressional Budget Office (CBO) estimate is currently not available.

Additional Information

For questions about amendments or further information on the bill, contact Jake Vreeburg with the House Republican Policy Committee by email or at 5-0190.