Political Quotes

“I ask unanimous consent that reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To amend the Internal Revenue Code of 1986 to clarify that products derived from tar sands are crude oil for purposes of the Federal excise tax on petroleum) At the appropriate place, insert the following: SEC. ___. CLARIFICATION OF TAR SANDS AS CRUDE OIL FOR EXCISE TAX PURPOSES. (a) In General.--Paragraph (1) of section 4612(a) of the Internal Revenue Code of 1986 is amended to read as follows: ``(1) Crude oil.--The term `crude oil' includes crude oil condensates, natural gasoline, synthetic petroleum, any bitumen or bituminous mixture, any oil derived from a bitumen or bituminous mixture, and any oil derived from kerogen- bearing sources.''. (b) Technical Amendment.--Paragraph (2) of section 4612(a) of such Code is amended by striking ``from a well located''. (c) Effective Date.--The amendments made by this section shall apply to oil and petroleum products received, entered, used, or exported during calendar quarters beginning more than 60 days after the date of the enactment of this Act.”