To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS; ETC.
(a) Short Title.--This Act may be cited as the ``Energy Freedom and Economic Prosperity Act''. (b) Reference to 1986 Code.--Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. (c) Table of Contents.--The table of contents for this Act is as follows:
Sec. 1. Short title; table of contents; etc. TITLE I--REPEAL OF ENERGY TAX SUBSIDIES
Sec. 101. Repeal of credit for alcohol fuel, biodiesel, and alternative fuel mixtures. Sec. 102. Repeal of credit for certain plug-in electric vehicles. Sec. 103. Early termination of credit for qualified fuel cell motor vehicles. Sec. 104. Repeal of alternative fuel vehicle refueling property credit. Sec. 105. Repeal of credit for alcohol used as fuel. Sec. 106. Repeal of credit for biodiesel and renewable diesel used as fuel. Sec. 107. Repeal of enhanced oil recovery credit. Sec. 108. Termination of credit for electricity produced from certain renewable resources. Sec. 109. Repeal of credit for producing oil and gas from marginal wells. Sec. 110. Termination of credit...