Petroleum Producers Burden Sharing Act
Official title: To amend the Internal Revenue Code of 1986 to impose an excise tax on windfall profits derived from crude oil, and for other purposes.
More subjectsShow fewer subjects
Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.
Referred to the House Committee on Ways and Means.
Petroleum Producers Burden Sharing Act - Amends the Internal Revenue Code to reinstate the windfall profit tax on domestic crude oil. Terminates such tax: (1) after the expiration of the first four calendar quarters beginning after the date of enactment of this section; or (2) after the expiration of the first six such calendar quarters, if the President determines that a continuing energy price crisis exists.
Establishes the Low Income Energy Support Trust Fund to fund the grant program under the Low-Income Home Energy Assistance Act of 1981 and the weatherization program under the Energy Conservation in Existing Buildings Act of 1976. Transfers to such Fund 33 percent of the taxes received from the windfall profit tax on domestic crude oil.
- Introduced in House Formatted Text
Cite this page
U.S. Congress. (2026). H.R. 295: Petroleum Producers Burden Sharing Act. 102nd Congress. Open America. https://openamerica.io/bill/102-HR-295/
"H.R. 295: Petroleum Producers Burden Sharing Act." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-HR-295/.
H.R. 295, 102nd Cong. (2026), https://openamerica.io/bill/102-HR-295/.
[H.R. 295: Petroleum Producers Burden Sharing Act](https://openamerica.io/bill/102-HR-295/)