United States · Bill · S
S. 850 (101st)
Energy Security Tax Act
Introduced
19 April 1989
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
26 August 2025
Summary
Energy Security Tax Act - Amends the Internal Revenue Code to impose an excise tax on the first sale within the United States of imports of: (1) crude oil; (2) refined petroleum products; and (3) petrochemical feedstocks or petrochemical derivatives. Sets the rate of the tax at the difference between $24 per barrel ($26.50 for petroleum and petrochemical products) and the most recently published average price of a barrel of internationally traded oil, as determined by the Secretary of the Treasury in accordance with a specified formula.
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Documents
2 official files
Introduced in Senate (text)
Introduced in Senate · EN
Introduced in Senate
summary · EN · 19 April 1989
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/101st-congress/senate-bill/850
- Open data entity: https://api.congress.gov/v3/bill/101/s/850