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H.R. 7061 117th Congress House

Big Oil Windfall Profits Tax Act

Official title: To amend the Internal Revenue Code of 1986 to impose a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers, and for other purposes.

Introduced: March 11, 2022 Introduced by: Ro Khanna Democratic · California See on congress.gov
Taxation Administrative law and regulatory proceduresConsumer affairsCorporate finance and managementDepartment of the Treasury
More subjectsShow fewer subjects
Energy pricesGovernment information and archivesGovernment trust fundsIncome tax creditsInflation and pricesMotor fuelsOil and gasSales and excise taxesU.S. territories and protectorates
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 11, 2022
Referred to the House Committee on Ways and Means.
Mar 11, 2022
Introduced in House
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 Latest action March 11, 2022

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Big Oil Windfall Profits Tax Act

This bill imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019, or who extracted and imported that amount in the current calendar quarter.

The bill requires rebates of the tax collected to be paid to individual taxpayers. The bill establishes the Protect Consumers from Gas Hikes Fund to finance such rebates.

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  • HR 7099 Stop Gas Price Gouging Tax and Rebate Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 2

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

  • SIERRA CLUB
    for SIERRA CLUB · California · 1st Quarter 2026 (Jan 1 - Mar 31)
  • NATIONAL TAXPAYERS UNION
    for NATIONAL TAXPAYERS UNION · District of Columbia · 1st Quarter 2025 (Jan 1 - Mar 31)

Bodies those filers lobbied

A filing lists the bills it worked on and the parts of government it contacted in separate sections, so these are the bodies those filers named anywhere in the filing, not a per-bill breakdown.

 Cosponsors 24
All 24 Democratic 15
D
Nadler, Jerrold
New York · Nov 14, 2022
Eshoo, Anna
· Jul 13, 2022
LANGEVIN, JAMES
· Jun 8, 2022
 D
Lofgren, Zoe
California · Apr 27, 2022
Cicilline, David
· Mar 29, 2022
 D
Pocan, Mark
Wisconsin · Mar 29, 2022
 D
Schakowsky, Janice D.
Illinois · Mar 29, 2022
 D
Huffman, Jared
California · Mar 28, 2022
Newman, Marie
· Mar 28, 2022
 D
DeLauro, Rosa L.
Connecticut · Mar 24, 2022
 D
Levin, Mike
California · Mar 18, 2022
Bowman, Jamaal
· Mar 16, 2022
 D
McGovern, James P.
Massachusetts · Mar 16, 2022
 D
Meng, Grace
New York · Mar 16, 2022
 D
Takano, Mark
California · Mar 16, 2022
 D
Barragán, Nanette Diaz
California · Mar 15, 2022
Bush, Cori
· Mar 15, 2022
Jones, Mondaire
· Mar 15, 2022
Lee, Barbara
· Mar 15, 2022
 D
Norton, Eleanor Holmes
District of Columbia · Mar 15, 2022
Porter, Katie
· Mar 15, 2022
 D
Titus, Dina
Nevada · Mar 15, 2022
 D
Tlaib, Rashida
Michigan · Mar 15, 2022
 D
Welch, Peter
Vermont · Mar 15, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7061: Big Oil Windfall Profits Tax Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7061/
MLA
"H.R. 7061: Big Oil Windfall Profits Tax Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7061/.
Bluebook (legal)
H.R. 7061, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7061/.
Markdown link
[H.R. 7061: Big Oil Windfall Profits Tax Act](https://openamerica.io/bill/117-HR-7061/)
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