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 S1: 1. Short title This Act may be cited as the Big Oil Windfall Profits Tax Act.
- Section HA33F2836F4764442ABA143A9B4F196B9: 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 H20B745C3582E40EEAE5D35B81EC4CCE8: 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 H2BC97C2252854B8C9778AE79E3DA408E: 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 H6294768D421445089C05BD0725A11E96: 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 CommitteeRead twice and referred to the Committee on Finance.
Introduced in Senate
Mr. Whitehouse (for himself, Ms. Baldwin, Mr. Blumenthal, Mr. Booker, …
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