S 4768 · 117th Congress

Taxing Big Oil Profiteers Act

<p> <strong>Taxing Big Oil Profiteers Act </strong></p> <p>This bill imposes an additional 21% tax through 2025 on the excess profits (i.e., current profits over normal return) of oil and natural gas companies that have average annual gross receipts during a three-year period of over $1 billion. </p> <p>The bill im…

Sponsor

Wyden, Ron (D-OR)

Introduced

2022-08-04

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.