# 119-s-5569: Oil Company Windfall Profits Tax Act of 2026

119-s-5569, Oil Company Windfall Profits Tax Act of 2026, is a 119th Congress bill sponsored by Sen. Schiff, Adam B. [D-CA] (D-CA); status introduced; PRIA reads it as touching household money (as of 2026-10-16).

- Canonical: https://policyrisk.com/legislation/119-s-5569
- As of: 2026-10-16
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-5569
- Congress: 119
- Title: Oil Company Windfall Profits Tax Act of 2026
- Status: introduced
- Introduced: 2026-09-28
- Sponsor: Sen. Schiff, Adam B. [D-CA] (D-CA)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-10-16

## Summary

**This bill would impose a 50% fee on "excess" oil company profits and route most proceeds to transportation and cleanup trust funds.** It creates a new excise fee in the tax code and a framework for computing, reporting, and transferring the money.

## Provisions PRIA read

- Oil fee funds highways, transit, cleanup: benefit, high. This bill would direct portions of the new oil-fee receipts to national infrastructure and cleanup funds. It would treat amounts tied to the fee as covered receipts for Highway Trust Fund transfers and apply a 0.5435% rule for certain transfer calculations. It would also require an amount equal to…
- Oil company fee becomes deductible: benefit, high. This bill would amend the tax code to allow integrated oil companies that pay the section 5896 fee to deduct that fee under the general deduction rule in section 164(a). If enacted, allowing the fee as a deduction would lower taxable income for payers and so would reduce their federal income tax li…
- Higher fee on big oil profits: cost, high. This bill would impose a new excise fee equal to 50% of an "excess profit" for integrated oil companies for tax years beginning after December 31, 2025. Excess profit would be the company’s adjusted taxable income for the year minus a "reasonably inflated average profit," which is the 5-year averag…

## Related bills

- 119-s-4949: Water Resources Development Act of 2026
- 119-s-2838: Protecting Our Democracy Act
- 119-s-2819: Head Start for America's Children Act
- 119-s-1541: SHIPS for America Act of 2025
- 119-s-5283: Momnibus Act
- 119-s-1507: Agriculture Resilience Act of 2025

## Sources
- [119-s-5569 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/5569)

## Related
- [119-s-4949: Water Resources Development Act of 2026](https://policyrisk.com/legislation/119-s-4949)
- [119-s-2838: Protecting Our Democracy Act](https://policyrisk.com/legislation/119-s-2838)
- [119-s-2819: Head Start for America's Children Act](https://policyrisk.com/legislation/119-s-2819)
- [119-s-1541: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-s-1541)
- [119-s-5283: Momnibus Act](https://policyrisk.com/legislation/119-s-5283)
- [119-s-1507: Agriculture Resilience Act of 2025](https://policyrisk.com/legislation/119-s-1507)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-5569 (as of 2026-10-16).