Summary: H.R.309 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.309. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/13/2015)

Gas Tax Replacement Act of 2015

Amends the Internal Revenue Code to: (1) repeal the excise taxes on gasoline and diesel fuels; (2) add a carbon dioxide equivalent rate to the tax on crude oil and petroleum products; and (3) impose an new excise tax on the carbon content of methanol, ethanol, and biodiesel produced in the United States and entered into the United States for consumption, use, or warehousing.

Requires the Administrator of the Environmental Protection Agency (EPA) to send to the Internal Revenue Service (IRS) and make public a report on the total life-cycle emissions of carbon dioxide for gasoline, diesel fuel, biofuel, and other regulated fuels.