S 4111
Big Oil Windfall Profits Tax Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 7:35 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Big Oil Windfall Profits Tax Act proposes a new excise tax on crude oil extracted and imported into the United States, targeting companies that experience unusually high profits. The tax rate is calculated as 50% of the excess over the average Brent crude oil price from 2025, adjusted for inflation. Collected taxes would be rebated to individual taxpayers through a new ‘Gasoline Price Rebate’ credit. This legislation also establishes a ‘Protect Consumers from Gas Price Hikes Fund’ to distribute the collected tax revenue to consumers.
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