National Resilience and Recovery Fund Act
Sponsored By: Representative Rep. Stansbury, Melanie Ann [D-NM-1]
Introduced
Summary
National Resilience and Recovery Fund would be created as a Treasury trust to bankroll FEMA resilience and disaster recovery programs using receipts from new and adjusted oil-related taxes. The bill directs specific oil excise receipts and a new windfall tax into the Fund for FEMA to use by appropriation.
Show full summary
- Communities and households: Would make funding available for FEMA’s Hazard Mitigation Grant Program, Building Resilient Infrastructure and Communities grants, Flood Mitigation Assistance, and the Safeguarding Tomorrow Revolving Loan Fund to support projects that reduce disaster and flood risk.
- Oil and gas producers and importers: Imposes a quarterly windfall profits tax equal to 50 percent of the amount the Brent crude price exceeds the 2015–2019 average for that quarter, with cost-of-living adjustments after 2025.
- Large oil firms: Treats firms as "covered taxpayers" if they exceeded 300,000 barrels per day in 2023 or in the relevant quarter, which determines who owes the windfall tax.
- Gulf of Mexico producers: Creates a separate 13 percent severance tax on crude oil and natural gas removed from Federal submerged lands in the Gulf of Mexico, with a credit for royalties up to the tax amount and the producer responsible for payment.
- Tax and definitions changes: Broadens the definition of "crude oil" for excise purposes to include condensates, bitumen, tar sands oil, and oil from kerogen sources. It also adds a 10 cent per barrel financing rate into the existing environmental tax framework.
- Tax treatment for companies: Allows deduction of the new windfall tax and the Gulf severance tax as severance-related expenses for tax purposes.
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 1 benefits, 3 costs, 1 mixed.
New disaster resilience fund at FEMA
This bill would create a Treasury trust fund for disaster resilience and recovery. The fund would receive money from specific oil and gas taxes. Congress would still need to approve spending each year. FEMA would use the money for hazard mitigation grants, resilience grants, resilience loans, and flood‑mitigation aid. The fund would start on January 1, 2025.
Windfall tax on large oil companies
Large oil producers and importers would pay a quarterly windfall tax. It would equal 50% of how much the quarter’s average Brent price is above the 2015–2019 average. It would apply if a company exceeded 300,000 barrels per day in 2023 or in the quarter. A cost‑of‑living update would apply for quarters in tax years after 2025. The tax would apply to oil removed or entered after December 31, 2024, in quarters ending after that date.
New 13% Gulf oil tax with deduction
Producers on Gulf Outer Continental Shelf leases would pay a new 13% tax on oil and gas they remove. The tax would be based on the sale price per barrel of oil or per 1,000 cubic feet of gas. Producers could claim a credit for federal royalties paid, but not more than the tax for that period. The paid tax would also be deductible as a business expense. The tax and deduction would apply to amounts removed after December 31, 2024. The Secretary would set rules for withholding, deposits, records, and returns.
Broader crude oil definition for taxes
If enacted, more fuels would count as crude oil for excise tax rules. The list would include condensates, natural gasoline, bitumen and tar sands, and oil from oil shale. The Secretary could also add other fuel feedstocks or products by rule if they meet safety and volume tests. This would take effect on the date of enactment.
Extra 10-cent per barrel oil tax
The bill would add a new 10‑cent per barrel financing amount to an existing oil excise tax. Companies that owe the section 4611 tax would pay this extra amount on each barrel. This would apply to tax years starting after December 31, 2024.
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Sponsors & CoSponsors
Sponsor
Rep. Stansbury, Melanie Ann [D-NM-1]
NM • D
Cosponsors
Rep. Balint, Becca [D-VT-At Large]
VT • D
Sponsored 11/7/2025
Rep. Huffman, Jared [D-CA-2]
CA • D
Sponsored 11/7/2025
Rep. Carson, Andre [D-IN-7]
IN • D
Sponsored 11/7/2025
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 11/7/2025
Rep. Goldman, Daniel S. [D-NY-10]
NY • D
Sponsored 11/12/2025
Rep. Jayapal, Pramila [D-WA-7]
WA • D
Sponsored 12/16/2025
Roll Call Votes
No roll call votes available for this bill.
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