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
The bill expands a tax rate change, appropriation, compliance mandate provision: 2, expands a tax rate change, compliance mandate provision: 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 excise, and expands a appropriation, compliance mandate, trade restriction provision: 5897. Definitions and special rules. It relies on compliance mandates, appropriations, tax rate changes, and tax credits. The main policy areas are Energy and Defense.
Who Benefits and How
The available clause analysis does not identify a specific beneficiary group.
Who Bears the Burden and How
No clear private burden is identified from the available clause analysis; implementing agencies may still take on administrative work.
Key Provisions
- Expands a tax rate change, appropriation, compliance mandate provision: 2.
- Expands a tax rate change, compliance mandate provision: 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 excise...
- Expands a appropriation, compliance mandate, trade restriction provision: 5897. Definitions and special rules.
- Reduces a tax credit, appropriation, compliance mandate provision: 3.
- Reduces a tax credit, appropriation, compliance mandate provision: 6436.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for primary purpose and policy domains.
At a Glance
What This Bill Does
The bill expands a tax rate change, appropriation, compliance mandate provision: 2, expands a tax rate change, compliance mandate provision: 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 excise, and expands a appropriation, compliance mandate, trade restriction provision: 5897. Definitions and special rules.
Key Policy Areas
Energy, Defense
Primary Purpose
The bill expands a tax rate change, appropriation, compliance mandate provision: 2, expands a tax rate change, compliance mandate provision: 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 excise, and expands a appropriation, compliance mandate, trade restriction provision: 5897. Definitions and special rules.
Policy Domains
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