Bill > HR5906

Introduced Session

Amends the Internal Revenue Code to: (1) repeal the excise tax on medical devices; (2) exclude from the gross receipts of major integrated oil companies (defined as companies with an average daily worldwide production of crude oil of at least 500,000 barrels and gross receipts in excess of $1 billion), for purposes of the tax deduction for income attributable to domestic production activities, receipts from the production, transportation, or distribution of oil, natural gas, or any primary product thereof; and (3) prohibit the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies.

Committee Categories

Michael Capuano (D),  Susan Davis (D),  Ron Kind (D),  Betty McCollum (D),  William Owens (D),  Ed Perlmutter (D),  Jared Polis (D),  Mike Ross (D),  Brad Sherman (D),  Niki Tsongas (D), 

Referred to the House Committee on Ways and Means. (on 06/07/2012)

Official Document