HR7960Referred to Committee
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
2
In Committee3
Passed One Chamber4
Passed Both5
Signed into Law119th
Congress
2026-03-17
Introduced
4
Cosponsors
HR
ⓘType
Latest Action
Referred to the House Committee on Ways and Means.
2026-03-17
Bill Summary
This house bill would 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. It has been referred to committee for review and possible markup.
Affected Industries
Industries and interest groups with a stake in how this bill is resolved. Compare with each member's outside-money backers on their finance page.
Oil & GasTobacco & AlcoholTaxes
Why this matters: Look up any member who voted on this bill and check their finance page — do the industries listed above match the groups funding their campaigns? That's the kind of connection this tool is built to help you find.
Read the full bill text