Post by Rick Warder on Jan 28, 2006 14:51:34 GMT -5
The president is looking for bipartisan sponsors of the following:
Heating Fuel Tax Deduction for Seniors Act
A BILL
to assist senior citizens in paying the cost of heating fuel.
SEC. 1. FINDINGS
The Congress finds that senior citizens have been the hardest hit by the rising price of oil, in particular heating fuel, and that appropriate tax relief is necessary.
SEC. 2. HEATING FUEL TAX DEDUCTION
All citizens and legal residents of the United States of America are entitled to offset up to $1,000 for the cost of heating fuel against their federal income taxes, provided that they give appropriate evidence of their expenditures for heating fuel, including but not limited to a heating fuel purchase receipt.
SEC. 3. COSTS
The cost of this bill is an estimated loss of tax revenue of up to $3,240,000,000.
SEC. 4. ENACTMENT
This bill is enacted upon its constitutional passage.
Heating Fuel Tax Deduction for Seniors Act
A BILL
to assist senior citizens in paying the cost of heating fuel.
SEC. 1. FINDINGS
The Congress finds that senior citizens have been the hardest hit by the rising price of oil, in particular heating fuel, and that appropriate tax relief is necessary.
SEC. 2. HEATING FUEL TAX DEDUCTION
All citizens and legal residents of the United States of America are entitled to offset up to $1,000 for the cost of heating fuel against their federal income taxes, provided that they give appropriate evidence of their expenditures for heating fuel, including but not limited to a heating fuel purchase receipt.
SEC. 3. COSTS
The cost of this bill is an estimated loss of tax revenue of up to $3,240,000,000.
SEC. 4. ENACTMENT
This bill is enacted upon its constitutional passage.