HR 7871
117th Congress
House
Taxation
People Over Petroleum Act
Introduced: May 24, 2022
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 24, 2022
Referred to the House Committee on Ways and Means.
May 24, 2022
Introduced in House
Plain-English summary
People Over Petroleum Act
This bill repeals or limits certain fossil fuel subsidies for large oil companies. It also allows individual taxpayers a 2022 gas prices rebate for the first taxable year beginning in 2022. The bill defines 2022 gas prices rebate as the sum of $500 ($1,000 for joint returns), plus $500 times the number of taxpayer dependents who had attained the age of 16 as of the end of the taxable year.
The bill allows advance payments of the rebate and requires taxpayers to provide a Social Security account number on their tax returns.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1