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H.R. 7103 117th Congress House

Stop Profiting Off Putin’s War Act

Official title: To amend the Internal Revenue Code of 1986 to establish an excise tax on the profits of oil companies and distribute them as a dividend to taxpayers, and for other purposes.

Introduced: March 16, 2022 See on congress.gov
Taxation Administrative law and regulatory proceduresConflicts and warsCorporate finance and managementDepartment of the Treasury
More subjectsShow fewer subjects
Energy pricesEuropeGovernment information and archivesGovernment trust fundsIncome tax creditsIncome tax deductionsMilitary operations and strategyMotor fuelsOil and gasRussiaSales and excise taxesTax administration and collection, taxpayersUkraineWages and earnings
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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 16, 2022
Referred to the House Committee on Ways and Means.
Mar 16, 2022
Introduced in House
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 Latest action March 16, 2022

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Stop Profiting Off Putin's War Act

This bill imposes a 50% excise tax through 2023 on the adjusted taxable income of certain major integrated oil companies during calendar quarters when the national average price of unleaded gasoline is equal to or greater than the national average price of unleaded gasoline on February 24, 2022, the day of the Russian invasion of Ukraine. The rate of such tax is increased to 75% for companies that raise prices in response to this new tax.

The bill requires tax revenues to be paid as rebates to eligible individuals and establishes the Gas Profit Recovery Fund to finance the payment of such rebates.

 Related & companion bills 3
  • HR 7061 Big Oil Windfall Profits Tax Act
  • HR 7099 Stop Gas Price Gouging Tax and Rebate Act
  • S 3802 Big Oil Windfall Profits Tax Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7103: Stop Profiting Off Putin’s War Act. 117th Congress. Open America. https://openamerica.io/bill/117-HR-7103/
MLA
"H.R. 7103: Stop Profiting Off Putin’s War Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-7103/.
Bluebook (legal)
H.R. 7103, 117th Cong. (2026), https://openamerica.io/bill/117-HR-7103/.
Markdown link
[H.R. 7103: Stop Profiting Off Putin’s War Act](https://openamerica.io/bill/117-HR-7103/)
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