Big Oil Windfall Profits Tax Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, Big Oil Windfall Profits Tax Act, changes federal law or congressional policy affecting energy producers, utilities, and energy consumers. The main policy domain is Energy, Finance, Immigration.
Who Benefits and How
energy producers, utilities, and energy consumers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, energy producers, utilities, and energy consumers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H55A94DC1BB7A47BBACCCCD0763F9C1D9: 1. Short title This Act may be cited as the Big Oil Windfall Profits Tax Act.
- Section HBEC7F843B7E84F07825A7C6AA83937B7: 2. Windfall profits tax Subtitle E of the Internal Revenue Code of 1986 is amended by adding at the end thereof the following new chapter: 56Windfall profits...
- Section HB758A1D786524662B8F904683F2DF4AE: 5896. Imposition of tax In addition to any other tax imposed under this title, in each calendar quarter there is hereby imposed on any covered taxpayer an...
- Section H1E1601493ABD4C7D804A45C64FD03C92: 5897. Definitions and special rules For purposes of this chapter— The term covered taxpayer means, with respect to any calendar quarter, any taxpayer if— the...
- Section H50866B062F3B4EA7AD81A45C22D79B23: 3. Gasoline price rebates Subchapter B of chapter 65 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, Big Oil Windfall Profits Tax Act, changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Key Policy Areas
Energy, Finance, Immigration
Primary Purpose
This bill, Big Oil Windfall Profits Tax Act, changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Policy Domains
Whole bill
Identified Gains
- energy producers, utilities, and energy consumers
Identified Costs
- federal implementing agencies
- energy producers, utilities, and energy consumers
Sponsors
Legislative Progress
In CommitteeReferred to the House Committee on Ways and Means.
Introduced in House
Mr. Khanna (for himself, Mr. Magaziner, and Ms. Tlaib) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_treasury"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology