Tax Aspects of the President's Energy Program Hearings: Prepared Statements of Administration Witnesses (appearing ...)U.S. Government Printing Office, 1977 |
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AFDC alternative energy property apply April 20 base rebate billion Btu equivalency price Btu's buses business energy property calendar capita rebate cents a gallon coal Cost Saving Act crude oil equalization deductions domestic Effective Date electric energy conservation ENERGY PROBLEM energy program excise tax exempt expenditures EXPLANATION Present Law Federal Energy Administrator fuel economy standards fuel efficiency fuel inefficiency tax gas consumption taxes geothermal steam properties incentives income tax increase installed insulation INTANGIBLE DRILLING COSTS intangible drilling expenses manufacturers miles per gallon minimum tax NATIONAL ENERGY PLAN natural gas noncommercial aviation oil and gas OIL AND NATURAL oil equalization tax outlays passenger automobiles payment prescribed PRODUCTION proposal provides RATIONAL PRICING reduced refund residential energy credit revenues Secretary Secs section 38 property September 30 social security solar energy equipment special business energy standby gasoline tax supplemental security income tax and rebate tax is imposed TAX MEASURES TECHNICAL EXPLANATION Present Treasury utilities
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Sivu 17 - other energy-conserving component" means any item (other than insulation)— (A) which is— (i) a furnace replacement burner designed to achieve a reduction in the amount of fuel consumed as a result of increased combustion efficiency, (ii) a device for modifying flue openings designed to increase the efficiency of operation of the heating system.
Sivu 26 - Any four-wheel vehicle propelled by a combustion engine using onboard fuel, or by an electric motor drawing current from rechargeable storage batteries or other portable energy storage devices (rechargeable using energy from a source off the vehicle such as residential electric service...
Sivu 58 - US has three overriding energy objectives : — as an immediate objective that will become even more important in the future, to reduce dependence on foreign oil and vulnerability to supply interruptions ; — in the medium term, to keep US imports sufficiently low to weather the period when world oil production approaches its capacity limitation ; and — in the long term, to have renewable and essentially inexhaustible sources of energy for sustained economic growth.
Sivu 58 - REDUCE DEPENDENCE ON FOREIGN OIL AND VULNERABILITY TO SUPPLY INTERRUPTIONS. IN THE MEDIUM TERM, THE US SHOULD KEEP US IMPORTS SUFFICIENTLY LOW TO WEATHER THE PERIOD DURING THE 1980 'S WHEN WORLD OIL PRODUCTION APPROACHES ITS CAPACITY LIMITATION.
Sivu 55 - Chairman, members of the committee. I am very pleased to be here today to discuss...
Sivu 55 - If world demand continues to grow at the rates of recent years, by 1985 it could reach or exceed 50 million barrels per day. However, many OPEC countries cannot significantly expand production; and, in some, production will actually decline. Thus, as a practical matter, overall OPEC production could approach the expected level of world demand only if Saudi Arabia greatly increased its oil production. Even if Saudi Arabia did so, the highest levels of OPEC production probably would be inadequate to...
Sivu 1 - STATEMENT OF THE HONORABLE W. MICHAEL BLUMENTHAL SECRETARY OF THE TREASURY ON THE PRESIDENT'S ECONOMIC STIMULUS PROGRAM BEFORE THE HOUSE COMMITTEE ON BANKING, CURRENCY AND HOUSING WASHINGTON.
Sivu 47 - ... over the amount of those costs amortizable on the basis of a 10-year life or under cost depletion, exceed the taxpayer's income from oil and gas properties. Income from oil and gas properties is to be determined first with reference to the rules for determining gross income from oil and gas properties for purposes of percentage depletion (sec. 613(a) of the Code) but without regard to the limitations under sec.
Sivu 67 - ... certification, training, information gathering, and public education. Solar equipment used by business and industry would be eligible for an additional 10 percent investment tax credit for energy conservation measures. Geothermal Energy Geothermal energy is a significant potential energy source. The tax deduction for intangible drilling costs now available for oil and gas drilling would be extended to geothermal drilling. Research, Development and Demonstration An effective Federal research,...
Sivu 36 - On the average, this would mean a tax of $1.45 per barrel. An electric utility is defined as any person engaged in the sale or exchange of electric energy or a person who owns or operates a qualifying cogeneration facility. The applicable tax rate is to be adjusted for inflation, ie, the change from a year earlier in the implicit price deflator for the gross national product for the quarter preceding the taxable year. "Taxable use" measures use of energy on a sliding scale, beginning at zero tax...