H.R.6653: To provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes.

To provide energy price relief and hold oil companies and other entities accountable for their actions with regard to high energy prices, and for other purposes. 7/30/2008--Introduced. Consumer Energy Relief Act of 2008 - Amends the Internal Revenue Code to: (1) deny major integrated oil companies a tax deduction for income attributable to domestic production of oil, gas, or primary products thereof; (2) conform tax treatment of foreign oil and gas extraction income and foreign oil related income for purposes of the foreign tax credit; (3) impose a windfall profits tax on major integrated oil companies; and (4) establish an Energy Independence and Security Trust Fund funded by revenues raised by this Act. Allows distributions from such Trust Fund for low-income home energy assistance, home weatherization, grants for research and development of renewable energy sources, and financing the purchases of hybrid vehicles, energy efficient vehicles, and energy efficient appliances.[...]

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