,i #aacth ,,congress #ast ,session ,h4 ,r4 #bei ,,in ,,the ,,house ,,of ,,representatives ,january #ae1 #bjac ,mr4 ,pompeo 7for himself1 ,mr4 ,whitfield1 ,mr4 ,duncan of ,south ,carolina1 ,mr4 ,huelskamp1 ,mr4 ,westmoreland1 ,mr4 ,stockman1 ,mr4 ,mc,clintock1 ,mr4 ,amash1 ,mr4 ,wilson of ,south ,carolina1 ,mr4 ,broun of ,georgia1 ,mr4 ,ribble1 and ,mr4 ,mulvaney7 introduced the following bill2 which was referred to the ,committee on ,ways and ,means ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to terminate certain energy tax subsidies and lower the corporate income tax rate4 #a4 ,short title2 table of contents2 etc 7a7 ,short title ,this ,act may be cited as the ,energy ,freedom and ,economic ,prosperity ,act4 7b7 ,reference to #aihf ,code ,except as otherwise expressly provided1 whenever in this ,act an amendment or repeal is expressed in terms of an amendment to1 or repeal of1 a section or other provision1 the reference shall be considered to be made to a section or other provision of the ,internal ,revenue ,code of #aihf4 7c7 ,table of contents ,the table of contents for this ,act is as follows3 ,sec4 #a4 ,short title2 table of contents2 etc4 ,title ,i--,repeal of energy tax subsidies ,sec4 #aja4 ,repeal of credit for alcohol fuel1 biodiesel1 and alternative fuel mixtures4 ,sec4 #ajb4 ,early termination of credit for qualified fuel cell motor vehicles4 ,sec4 #ajc4 ,early termination of new qualified plug-in electric drive motor vehicles4 ,sec4 #ajd4 ,repeal of alternative fuel vehicle refueling property credit4 ,sec4 #aje4 ,repeal of credit for alcohol used as fuel4 ,sec4 #ajf4 ,repeal of credit for biodiesel and renewable diesel used as fuel4 ,sec4 #ajg4 ,repeal of enhanced oil recovery credit4 ,sec4 #ajh4 ,termination of credit for electricity produced from certain renewable resources4 ,sec4 #aji4 ,repeal of credit for producing oil and gas from marginal wells4 ,sec4 #aaj4 ,termination of credit for production from advanced nuclear power facilities4 ,sec4 #aaa4 ,repeal of credit for carbon dioxide sequestration4 ,sec4 #aab4 ,termination of energy credit4 ,sec4 #aac4 ,repeal of qualifying advanced coal project4 ,sec4 #aad4 ,repeal of qualifying gasification project credit4 ,title ,,ii--,reduction of corporate income tax rate ,sec4 #bja4 ,corporate income tax rate reduced4 ,i ,repeal of energy tax subsidies #aja4 ,repeal of credit for alcohol fuel1 biodiesel1 and alternative fuel mixtures 7a7 ,in general ,section #fdbf is repealed4 7b7 ,conforming amendments 7#a7 ,paragraph 7#a7 of section #daja7;a7 is amended by striking or alcohol 7as defined in section #fdbf7;b77#d77;,a74 7#b7 ,paragraph 7#b7 of section #dajd7;a7 is amended by striking #fdbf1 or #fdbg7;e74 7#c7 ,section #fdbg is amended by striking subsection 7e74 7#d7 ,subparagraph 7,e7 of section #ggjd7;d77#a7 is amended-- 7,a7 by inserting 7as in effect on the day before the date of the enactment of the ,energy ,freedom and ,economic ,prosperity ,act7 after of section #fdbf1 and 7,b7 by inserting 7as so in effect7 after section #fdbf7;b77#d77;,a74 7#e7 ,paragraph 7#a7 of section #iejc7;b7 is amended by striking the second sentence4 7c7 ,clerical amendment ,the table of sections for subchapter ,b of chapter #fe is amended by striking the item relating to section #fdbf4 7d7 ,effective 7#a7 ,in general ,except as provided in paragraph 7#b71 the amendments made by this section shall apply with respect to fuel sold and used after the date of the enactment of this ,act4 7#b7 ,liquefied hydrogen ,in the case of any alternative fuel or alternative fuel mixture 7as defined in subsection 7d77#b7 or 7e77#c7 of section #fdbf of the ,internal ,revenue ,code of #aihf as in effect before its repeal by this ,act7 involving liquefied hydrogen1 the amendments made by this section shall apply with respect to fuel sold and used after ,september #cj1 #bjad4 #ajb4 ,early termination of credit for qualified fuel cell motor vehicles 7a7 ,in general ,section #cj;,b is repealed4 7b7 ,conforming amendments 7#a7 ,subparagraph 7,a7 of section #bd7;b77#c7 is amended by striking 1 #cj;,b4 7#b7 ,paragraph 7#b7 of section #be;,b7g7 is amended by striking 1 #cj;,b14 7#c7 ,subsection 7b7 of section #ch is amended by striking paragraph 7#be74 7#d7 ,subsection 7a7 of section #ajaf is amended by striking paragraph 7#ce7 and by redesignating paragraphs 7#cf7 and 7#cg7 as paragraphs 7#ce7 and 7#cf71 respectively4 7#e7 ,subsection 7m7 of section #feja is amended by striking 1 #cj;,b7h77#i74 7c7 ,clerical amendment ,the table of sections for subpart ,b of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #cj;,b4 7d7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjad4 #ajc4 ,early termination of new qualified plug-in electric drive motor vehicles 7a7 ,in general ,section #cj;,d is repealed4 7b7 ,effective date ,the amendment made by this section shall apply to vehicles placed in service after the date of the enactment of this ,act4 #ajd4 ,repeal of alternative fuel vehicle refueling property credit 7a7 ,in general ,section #cj;,c is repealed4 7b7 ,conforming amendments 7#a7 ,subsection 7b7 of section #ch is amended by striking paragraph 7#bf74 7#b7 ,paragraph 7#c7 of section #ee7;c7 is amended by striking 1 #cj;,c7d77#b714 7#c7 ,subsection 7a7 of section #ajaf1 as amended by section #ajb of this ,act1 is amended by striking paragraph 7#ce7 and by redesignating paragraph 7#cf7 as paragraph 7#ce74 7#d7 ,subsection 7m7 of section #feja is amended by striking 1 #cj;,c7e77#e74 7c7 ,clerical amendment ,the table of sections for subpart ,b of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #cj;,c4 7d7 ,effective date ,the amendments made by this section shall apply to property placed in service after the date of the enactment of this ,act4 #aje4 ,repeal of credit for alcohol used as fuel 7a7 ,in general ,section #dj is repealed4 7b7 ,conforming amendments 7#a7 ,subsection 7b7 of section #ch is amended by striking paragraph 7#c74 7#b7 ,subsection 7c7 of section #aif is amended by striking paragraph 7#c7 and by redesignating paragraphs 7#d7 through 7#ad7 as paragraphs 7#c7 through 7#ac71 respectively4 7#c7 ,paragraph 7#a7 of section #daja7;a7 is amended by striking 1 and every person producing cellulosic biofuel 7as defined in section #dj7;b77#f77;,e774 7#d7 ,paragraph 7#a7 of section #dajd7;a7 is amended by striking 1 #dj4 7c7 ,effective date ,the amendments made by this section shall apply to fuel sold or used after the date of the enactment of this ,act4 #ajf4 ,repeal of credit for biodiesel and renewable diesel used as fuel 7a7 ,in general ,section #dj;,a is repealed4 7b7 ,conforming amendment 7#a7 ,subsection 7b7 of section #ch is amended by striking paragraph 7#ag74 7#b7 ,section #hg is repealed4 7#c7 ,subsection 7c7 of section #aif1 as amended by section #aje of this ,act1 is amended by striking paragraph 7#aa7 and by redesignating paragraphs 7#aa71 7#ab71 and 7#ac7 as paragraphs 7#aj71 7#aa71 and 7#ab71 respectively4 7#d7 ,paragraph 7#a7 of section #daja7;a7 is amended by striking 1 every person producing or importing biodiesel 7as defined in section #dj;,a7d77#a74 7#e7 ,paragraph 7#a7 of section #dajd7;a7 is amended by striking 1 and #dj;,a4 7#f7 ,subparagraph 7,e7 of section #ggjd7;d77#a7 is amended by inserting 7as so in effect7 after section #dj;,a7d77#a74 7c7 ,clerical amendment ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #dj;,a4 7d7 ,effective date ,the amendments made by this section shall apply to fuel produced1 and sold or used1 after the date of the enactment of this ,act4 #ajg4 ,repeal of enhanced oil recovery credit 7a7 ,in general ,section #dc is repealed4 7b7 ,conforming amendments 7#a7 ,subsection 7b7 of section #ch is amended by striking paragraph 7#f74 7#b7 ,paragraph 7#d7 of section #de,q7d7 is amended by inserting 7as in effect on the day before the date of the enactment of the ,energy ,freedom and ,economic ,prosperity ,act7 after section #dc7;c77#b74 7#c7 ,subsection 7c7 of section #aif1 as amended by sections #aje and #ajf of this ,act1 is amended by striking paragraph 7#e7 and by redesignating paragraphs 7#f7 through 7#ab7 as paragraphs 7#e7 through 7#aa71 respectively4 7c7 ,clerical amendment ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #dc4 7d7 ,effective date ,the amendments made by this section shall apply to costs paid or incurred after ,december #ca1 #bjad4 #ajh4 ,termination of credit for electricity produced from certain renewable resources 7a7 ,wind ,subsection 7d7 of section #de is amended by striking ,january #a1 #bjad in paragraph 7#a7 and inserting the date of the enactment of the ,energy ,freedom and ,economic ,prosperity ,act4 7b7 ,indian coal ,subparagraph 7,a7 of section #de7;e77#aj7 is amended by striking #h-year period each place it appears and inserting #g-year period4 7c7 ,effective date 7#a7 ,wind ,the amendment made by subsection 7a7 shall apply to property placed in service after the date of the enactment of this ,act4 7#b7 ,indian coal ,the amendments made by subsection 7b7 shall apply to coal produced after ,december #ca1 #bjab4 7#c7 ,other qualified energy resources ,for termination of other qualified energy resources for property placed in service after ,december #ca1 #bjac1 see section #de of the ,internal ,revenue ,code of #aihf4 #aji4 ,repeal of credit for producing oil and gas from marginal wells 7a7 ,in general ,section #de;,i is repealed4 7b7 ,conforming amendment ,subsection 7b7 of section #ch is amended by striking paragraph 7#ai74 7c7 ,clerical amendment ,the table of sections for subpart ,d of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #de;,i4 7d7 ,effective date ,the amendments made by this section shall apply to production in taxable years beginning after ,december #ca1 #bjad4 #aaj4 ,termination of credit for production from advanced nuclear power facilities 7a7 ,in general ,subparagraph 7,b7 of section #de;,j7d77#a7 is amended by striking ,january #a1 #bjba and inserting ,january #a1 #bjae4 7b7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjad4 #aaa4 ,repeal of credit for carbon dioxide sequestration 7a7 ,in general ,section #de,q is repealed4 7b7 ,effective date ,the amendment made by this section shall apply to carbon dioxide captured after ,december #ca1 #bjad4 #aab4 ,termination of energy credit 7a7 ,in general ,section #dh is amended-- 7#a7 by striking ,january #a1 #bjag each place it appears and inserting ,january #a1 #bjae1 and 7#b7 by striking ,december #ca1 #bjaf each place it appears and inserting ,december #ca1 #bjad4 7b7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjad4 #aac4 ,repeal of qualifying advanced coal project 7a7 ,in general ,section #dh;,a is repealed4 7b7 ,conforming amendment ,section #df is amended by striking paragraph 7#c7 and by redesignating paragraphs 7#d71 7#e71 and 7#f7 as paragraphs 7#c71 7#d71 and 7#e71 respectively4 7c7 ,clerical amendment ,the table of sections for subpart ,e of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #dh;,a4 7d7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjad4 #aad4 ,repeal of qualifying gasification project credit 7a7 ,in general ,section #dh;,b is repealed4 7b7 ,conforming amendment ,section #df1 as amended by this ,act1 is amended by striking paragraph 7#c7 and by redesignating paragraphs 7#d7 and 7#e7 as paragraphs 7#c7 and 7#d71 respectively4 7c7 ,clerical amendment ,the table of sections for subpart ,e of part ,,iv of subchapter ,a of chapter #a is amended by striking the item relating to section #dh;,b4 7d7 ,effective date ,the amendments made by this section shall apply to property placed in service after ,december #ca1 #bjad4 ,,ii ,reduction of corporate income tax rate #bja4 ,corporate income tax rate reduced 7a7 ,in general ,not later than #a year after the date of the enactment of this ,act1 the ,secretary of the ,treasury shall prescribe a rate of tax in lieu of the rates under paragraphs 7#a7 and 7#b7 of section #aa7;b71 section #abja7;a71 and paragraphs 7#a71 7#b71 and 7#f7 of section #adde7;e7 to such a flat rate as the ,secretary estimates would result in-- 7#a7 a decrease in revenue to the ,treasury for taxable years beginning during the #aj-year period beginning on the date of the enactment of this ,act1 equal to 7#b7 the increase in revenue for such taxable years by reason of the amendments made by title ,i of this ,act4 7b7 ,effective date ,the rate prescribed by the ,secretary under subsection 7a7 shall apply to taxable years beginning more than #a year after the date of the enactment of this ,act4