S 1026 · 119th Congress

Tar Sands Tax Loophole Elimination Act

Right now, there's a tax break in the federal tax code that allows oil companies to avoid paying certain taxes on crude oil derived from tar sands. This bill closes that loophole by making it crystal clear that tar sands oil counts as crude oil for federal tax purposes. Here's why this matters: the federal governmen…

Sponsor

Markey, Edward J. (D-Massachusetts)

Introduced

2025-03-13

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.