Big Oil Windfall Profits Tax Act

Summary

Big Oil Windfall Profits Tax Act This bill imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019, or who extracted and imported that amount in the current calendar quarter. The bill requires rebates of the tax collected to be paid to individual taxpayers. The bill establishes the Protect Consumers from Gas Hikes Fund to finance such rebates.

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Timeline

1. 10 March 2022

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 10 March 2022

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 10 March 2022 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 10 March 2022

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 10 March 2022

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 10 March 2022

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Whitehouse, Sheldon [D-RI] · D · Sponsor
• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• Sen. Warren, Elizabeth [D-MA] · D · Sponsor
• Sen. Sanders, Bernard [I-VT] · I · Sponsor
• Sen. Baldwin, Tammy [D-WI] · D · Sponsor
• Sen. Brown, Sherrod [D-OH] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Booker, Cory A. [D-NJ] · D · Sponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Sponsor
• Sen. Blumenthal, Richard [D-CT] · D · Sponsor
• Sen. Bennet, Michael F. [D-CO] · D · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Stabenow, Debbie [D-MI] · D · Cosponsor
• Sen. Padilla, Alex [D-CA] · D · Cosponsor
• Sen. Warnock, Raphael G. [D-GA] · D · Cosponsor
• Sen. Murphy, Christopher [D-CT] · D · Cosponsor
• Sen. Feinstein, Dianne [D-CA] · D · Cosponsor
• Sen. Kaine, Tim [D-VA] · D · Cosponsor
• · ssfi00 · Standing

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