US Congress House Bill 5906 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 10-0)
Status: Introduced on June 7 2012 - 25% progression, died in committee
Action: 2012-06-07 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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.

To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.

Rep. Jared Polis [D-CO]	Rep. Michael Capuano [D-MA]	Rep. Susan Davis [D-CA]	Rep. Ron Kind [D-WI]
Rep. Betty McCollum [D-MN]	Rep. William Owens [D-NY]	Rep. Ed Perlmutter [D-CO]	Rep. Mike Ross [D-AR]
Rep. Brad Sherman [D-CA]	Rep. Niki Tsongas [D-MA]

Date	Chamber	Action
2012-06-07	House	Referred to the House Committee on Ways and Means.

HB436 (Related) 2012-06-12 - Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 427.
HB488 (Related) 2011-01-26 - Referred to the House Committee on Ways and Means.
HB734 (Related) 2011-02-16 - Referred to House Appropriations
SB17 (Related) 2011-01-25 - Read twice and referred to the Committee on Finance.
SB262 (Related) 2011-02-03 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/5906/all-info
Text	https://www.congress.gov/112/bills/hr5906/BILLS-112hr5906ih.pdf