PRIA Logo™
117-hr-7061117th Congress

Big Oil Windfall Profits Tax Act

Sponsored By: Representative Khanna, Ro [D-CA-17]

Unknown

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.

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Khanna, Ro [D-CA-17]

CA • D

Cosponsors

  • Rep. Lee, Barbara [D-CA-12]

    CA • D

    Sponsored 3/15/2022

  • Rep. Barragán, Nanette Diaz [D-CA-44]

    CA • D

    Sponsored 3/15/2022

  • Del. Norton, Eleanor Holmes [D-DC-At Large]

    DC • D

    Sponsored 3/15/2022

  • Rep. Porter, Katie [D-CA-47]

    CA • D

    Sponsored 3/15/2022

  • Rep. Titus, Dina [D-NV-1]

    NV • D

    Sponsored 3/15/2022

  • Rep. Bush, Cori [D-MO-1]

    MO • D

    Sponsored 3/15/2022

  • Rep. Tlaib, Rashida [D-MI-12]

    MI • D

    Sponsored 3/15/2022

  • Rep. Jones, Mondaire [D-NY-17]

    NY • D

    Sponsored 3/15/2022

  • Sen. Welch, Peter [D-VT]

    VT • D

    Sponsored 3/15/2022

  • Rep. Takano, Mark [D-CA-39]

    CA • D

    Sponsored 3/16/2022

  • Rep. Bowman, Jamaal [D-NY-16]

    NY • D

    Sponsored 3/16/2022

  • Rep. Meng, Grace [D-NY-6]

    NY • D

    Sponsored 3/16/2022

  • Rep. McGovern, James P. [D-MA-2]

    MA • D

    Sponsored 3/16/2022

  • Rep. Levin, Mike [D-CA-49]

    CA • D

    Sponsored 3/18/2022

  • Rep. DeLauro, Rosa L. [D-CT-3]

    CT • D

    Sponsored 3/24/2022

  • Rep. Newman, Marie [D-IL-3]

    IL • D

    Sponsored 3/28/2022

  • Rep. Huffman, Jared [D-CA-2]

    CA • D

    Sponsored 3/28/2022

  • Rep. Cicilline, David N. [D-RI-1]

    RI • D

    Sponsored 3/29/2022

  • Rep. Schakowsky, Janice D. [D-IL-9]

    IL • D

    Sponsored 3/29/2022

  • Rep. Pocan, Mark [D-WI-2]

    WI • D

    Sponsored 3/29/2022

  • Rep. Lofgren, Zoe [D-CA-18]

    CA • D

    Sponsored 4/27/2022

  • Rep. Langevin, James R. [D-RI-2]

    RI • D

    Sponsored 6/8/2022

  • Rep. Eshoo, Anna G. [D-CA-16]

    CA • D

    Sponsored 7/13/2022

  • Rep. Nadler, Jerrold [D-NY-12]

    NY • D

    Sponsored 11/14/2022

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
Back to Legislation