Stop Gas Price Gouging Tax and Rebate Act
Official title: To amend the Internal Revenue Code of 1986 to establish a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers, and for other purposes.
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Referred to the House Committee on Ways and Means.
Stop Gas Price Gouging Tax and Rebate Act
This bill imposes an excise tax of 50% of the excess of the windfall profit of a producer of crude oil (including crude oil condensates and natural gasoline) that has an average daily worldwide production of crude oil of at least 300,000 barrels for the taxable year, and had gross receipts in excess of $1 billion for its last taxable year during 2005. The bill defines windfall profit as the excess of the adjusted taxable income of such producer for taxable year 2022 over the reasonably inflated average profit for such taxable year.
The bill requires payment of energy price rebates to eligible individuals.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 7099: Stop Gas Price Gouging Tax and Rebate Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7099/
"H.R. 7099: Stop Gas Price Gouging Tax and Rebate Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7099/.
H.R. 7099, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7099/.
[H.R. 7099: Stop Gas Price Gouging Tax and Rebate Act](https://openamerica.io/bill/117-HR-7099/)