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HR 7061 117th Congress House Taxation Administrative law and regulatory procedures Consumer affairs Corporate finance and management Department of the Treasury Energy prices Government information and archives Government trust funds Income tax credits Inflation and prices Motor fuels Oil and gas Sales and excise taxes U.S. territories and protectorates

Big Oil Windfall Profits Tax Act

Introduced: July 13, 2022 Introduced by: Khanna, Ro Democratic · California See on congress.gov
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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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 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.

What's happening now March 11, 2022

Referred to the House Committee on Ways and Means.

 Related & companion bills 3
  • HR 7103 Related bill Stop Profiting Off Putin’s War Act
  • HR 7099 Related bill Stop Gas Price Gouging Tax and Rebate Act
  • S 3802 Identical bill Big Oil Windfall Profits Tax 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 (Jan 1 - Mar 31) 2026
  • NATIONAL TAXPAYERS UNION
    for NATIONAL TAXPAYERS UNION · District of Columbia · 1st Quarter (Jan 1 - Mar 31) 2025
 Cosponsors 21
All 21 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
 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
 D
Norton, Eleanor Holmes
District of Columbia · 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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