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United States · Bill · HR

H.R. 2184 (117th)

End Oil and Gas Tax Subsidies Act of 2021

referredUnited States· United States Congress· EN

Introduced

26 March 2021

Last action

26 March 2021 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Blumenauer, Earl [D-OR-3], Rep. Casten, Sean [D-IL-6], Rep. McEachin, A. Donald [D-VA-4], Rep. Porter, Katie [D-CA-47], Rep. Eshoo, Anna G. [D-CA-18], Rep. Chu, Judy [D-CA-28], Marie Newman, Rep. Jones, Mondaire [D-NY-17], Rep. Pingree, Chellie [D-ME-1], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Pocan, Mark [D-WI-2], Rep. Kildee, Daniel T. [D-MI-5], Rep. Lofgren, Zoe [D-CA-18], Rep. Huffman, Jared [D-CA-2], Rep. Cleaver, Emanuel [D-MO-5], Rep. Takano, Mark [D-CA-39], Rep. Sherman, Brad [D-CA-32], Rep. Cohen, Steve [D-TN-9], Rep. Cooper, Jim [D-TN-5], Rep. Evans, Dwight [D-PA-3], Rep. Espaillat, Adriano [D-NY-13], Rep. García, Jesús G. "Chuy" [D-IL-4], Rep. Meng, Grace [D-NY-6], Rep. Bonamici, Suzanne [D-OR-1], Rep. Tonko, Paul [D-NY-20], Rep. DeSaulnier, Mark [D-CA-10], Rep. Brownley, Julia [D-CA-26], Rep. DeGette, Diana [D-CO-1], Rep. Khanna, Ro [D-CA-17], Rep. Lee, Barbara [D-CA-12], Rep. Lieu, Ted [D-CA-36], Rep. Davis, Danny K. [D-IL-7], Sen. Welch, Peter [D-VT], Rep. Moore, Gwen [D-WI-4], Rep. DeFazio, Peter A. [D-OR-4], Rep. Schakowsky, Janice D. [D-IL-9], Rep. McNerney, Jerry [D-CA-9], Rep. Watson Coleman, Bonnie [D-NJ-12], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Langevin, James R. [D-RI-2], Rep. Raskin, Jamie [D-MD-8], Rep. Gomez, Jimmy [D-CA-34], Rep. Dingell, Debbie [D-MI-6], Rep. Lowenthal, Alan S. [D-CA-47], Rep. Levin, Mike [D-CA-49], Rep. Sarbanes, John P. [D-MD-3]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

End Oil and Gas Tax Subsidies Act of 2021 This bill limits or repeals certain fossil fuel oil and gas subsidies for oil companies. Specifically, it increases to seven years the amortization period for geological and geophysical expenditures; repeals the tax credits for producing oil and gas from marginal wells and for enhanced oil recovery; repeals the tax deduction for the intangible drilling and development costs of oil and gas wells; repeals percentage depletion; repeals the tax deduction for tertiary injectant expenses; repeals the passive loss exception for working interests in oil and gas property; denies the tax deduction for income attributable to domestic production activities for oil and gas activities; prohibits the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies; limits the foreign tax credit for dual capacity taxpayers (i.e., taxpayers who are subject to a levy of a foreign country or U.S. possession and receive specific economic benefits from such country or possession); and expands the definition of crude oil for purposes of the excise tax on petroleum and petroleum products to include any oil derived from a bitumen or bituminous mixture (tar sands), and any oil derived from kerogen-bearing sources (oil shale).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 26 March 2021

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 26 March 2021

    Introduced

    Sponsor introductory remarks on measure. (CR E309)

    Source: IntroReferral

  3. 26 March 2021

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 26 March 2021

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 26 March 2021

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  • Introduced in House (PDF)

    Introduced in House · EN · 26 March 2021

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  • Introduced in House

    summary · EN · 26 March 2021

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Sponsors

Related records

Sources

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