Fair Deal Amendments of 1980
Latest action. Referred to Senate Committee on Finance.
Fair Deal Amendment of 1980 - Amends the Internal Revenue Code to allow a crude oil producer to reduce his windfall profit tax liability by 25 percent of qualified State excess profits taxes actually paid by such producer. Limits such reduction to State taxes: (1) imposed (at a rate of no more than five percent) with respect to the gross receipts of oil companies only from sales within the State; or (2) imposed (at a rate of no more than ten percent) on a fraction of the producer's windfall profits represented by the ratio of such producer's total in-State sales of petroleum products to such producer's entire United States sales of such products; and (3) which are prohibited from being passed on to petroleum product purchasers. Requires that proceeds from any such State excess profits tax be dedicated to specified energy- related purposes. Disallows any income tax deduction for State excess profits taxes used as a basis for such reduction from the crude oil windfall profit tax.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on November 18, 1980. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on November 18, 1980: Referred to Senate Committee on Finance.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
DANIEL MOYNIHAN (D-NY) introduced it on November 18, 1980. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on November 18, 1980, 16732 days ago. The most recent recorded action was 16732 days ago, on November 18, 1980.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers