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S. 3802 117th Congress Senate

Big Oil Windfall Profits Tax Act

Official title: A bill 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 10, 2022 Introduced by: Sheldon Whitehouse Democratic · Rhode Island 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 10, 2022
Read twice and referred to the Committee on Finance.
Mar 10, 2022
Introduced in Senate
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 Latest action March 10, 2022

Read twice and referred to the Committee on Finance.

 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.

 Related & companion bills 3
  • HR 7061 Identical bill Big Oil Windfall Profits Tax Act
  • HR 7099 Stop Gas Price Gouging Tax and Rebate Act
  • HR 7103 Stop Profiting Off Putin’s War Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 13
All 13 Democratic 12 Independent 1
D
Kaine, Tim
Virginia · Jul 19, 2022
 D
Murphy, Christopher
Connecticut · Mar 29, 2022
 D
Warnock, Raphael G.
Georgia · Mar 23, 2022
 D
Padilla, Alex
California · Mar 17, 2022
 D
Baldwin, Tammy
Wisconsin · Mar 10, 2022
 D
Bennet, Michael F.
Colorado · Mar 10, 2022
 D
Blumenthal, Richard
Connecticut · Mar 10, 2022
 D
Booker, Cory A.
New Jersey · Mar 10, 2022
 D
Markey, Edward J.
Massachusetts · Mar 10, 2022
 D
Merkley, Jeff
Oregon · Mar 10, 2022
 D
Reed, Jack
Rhode Island · Mar 10, 2022
 I
Sanders, Bernard
Vermont · Mar 10, 2022
 D
Warren, Elizabeth
Massachusetts · Mar 10, 2022
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3802: Big Oil Windfall Profits Tax Act. 117th Congress. Open America. https://openamerica.io/bill/117-S-3802/
MLA
"S. 3802: Big Oil Windfall Profits Tax Act." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-3802/.
Bluebook (legal)
S. 3802, 117th Cong. (2026), https://openamerica.io/bill/117-S-3802/.
Markdown link
[S. 3802: Big Oil Windfall Profits Tax Act](https://openamerica.io/bill/117-S-3802/)
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