# 119-s-224: Promoting Domestic Energy Production Act

119-s-224, Promoting Domestic Energy Production Act, is a 119th Congress bill sponsored by Sen. Lankford, James [R-OK] (R-OK); status introduced; PRIA reads it as touching household money (as of 2026-11-01).

- Canonical: https://policyrisk.com/legislation/119-s-224
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-224
- Congress: 119
- Title: Promoting Domestic Energy Production Act
- Status: introduced
- Introduced: 2025-01-23
- Sponsor: Sen. Lankford, James [R-OK] (R-OK)
- Cosponsors: 18
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-11-01

## Summary

This bill would change federal tax accounting for energy producers by altering how **intangible drilling and development costs** are treated when calculating adjusted financial statement income. It would amend Internal Revenue Code section 56A(c)(13) to limit which depreciation and section 263(c) deductions count in that calculation and to replace a rule about ignoring financial-statement depreciation and depletion with language that explicitly disregards those amounts, applying to taxable years beginning after December 31, 2025.

## Cosponsors (18)

- Sen. Barrasso, John [R-WY] (R-WY), 2025-01-23T00:00:00.000Z
- Sen. Daines, Steve [R-MT] (R-MT), 2025-01-23T00:00:00.000Z
- Sen. Cassidy, Bill [R-LA] (R-LA), 2025-01-23T00:00:00.000Z
- Sen. Scott, Tim [R-SC] (R-SC), 2025-01-23T00:00:00.000Z
- Sen. Marshall, Roger [R-KS] (R-KS), 2025-01-23T00:00:00.000Z
- Rep. Mullin, Markwayne [R-OK-2] (R-OK), 2025-01-23T00:00:00.000Z
- Sen. Cruz, Ted [R-TX] (R-TX), 2025-01-23T00:00:00.000Z
- Sen. Cramer, Kevin [R-ND] (R-ND), 2025-01-23T00:00:00.000Z
- Sen. Lummis, Cynthia M. [R-WY] (R-WY), 2025-01-23T00:00:00.000Z
- Sen. Moran, Jerry [R-KS] (R-KS), 2025-01-23T00:00:00.000Z
- Sen. Sheehy, Tim [R-MT] (R-MT), 2025-01-23T00:00:00.000Z
- Sen. Risch, James E. [R-ID] (R-ID), 2025-01-23T00:00:00.000Z
- Sen. Sullivan, Dan [R-AK] (R-AK), 2025-01-23T00:00:00.000Z
- Sen. Cornyn, John [R-TX] (R-TX), 2025-01-24T00:00:00.000Z
- Sen. Moreno, Bernie [R-OH] (R-OH), 2025-03-13T00:00:00.000Z
- Sen. Lee, Mike [R-UT] (R-UT), 2025-03-26T00:00:00.000Z
- Sen. Hoeven, John [R-ND] (R-ND), 2025-05-21T00:00:00.000Z
- Sen. Husted, Jon [R-OH] (R-OH), 2025-05-21T00:00:00.000Z

## Provisions PRIA read

- Tax change for oil and gas firms: benefit, high. This bill would change how firms treat intangible drilling and development costs (IDCs) for tax accounting. It would require ignoring depreciation and depletion shown on a firm's applicable financial statement for such property when computing adjusted financial statement income. It would only reduc…

## Related bills

- 119-s-1071: National Defense Authorization Act for Fiscal Year 2026
- 119-s-3752: SAVE America Act
- 119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of 2025
- 119-s-128: SAVE Act
- 119-s-65: Constitutional Concealed Carry Reciprocity Act of 2025
- 119-sres-585: A resolution honoring the life, achievements, and legacy of Ben Nighthorse Campbell.

## Sources
- [119-s-224 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/224)

## Related
- [119-s-1071: National Defense Authorization Act for Fiscal Year 2026](https://policyrisk.com/legislation/119-s-1071)
- [119-s-3752: SAVE America Act](https://policyrisk.com/legislation/119-s-3752)
- [119-s-186: No Taxpayer Funding for Abortion and Abortion Insurance Full Disclosure Act of…](https://policyrisk.com/legislation/119-s-186)
- [119-s-128: SAVE Act](https://policyrisk.com/legislation/119-s-128)
- [119-s-65: Constitutional Concealed Carry Reciprocity Act of 2025](https://policyrisk.com/legislation/119-s-65)
- [119-sres-585: A resolution honoring the life, achievements, and legacy of Ben Nighthorse Camp…](https://policyrisk.com/legislation/119-sres-585)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-224 (as of 2026-11-01).