A Democratic bill with no cosponsors
Last activity — Read twice and referred to the Committee on Finance.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill is called the "Oil Company Windfall Profits Tax Act of 2026." It creates a new fee on excess oil profits for applicable taxpayers. The fee is an excise fee equal to 50 percent of the excess profit for any taxable year beginning after December 31, 2025. An applicable taxpayer is defined as any integrated oil company. The revenue collected from this fee is transferred to the Highway Trust Fund and the Leaking Underground Storage Tank Trust Fund.
Yes· 3 of 5
- Scored +6
Does this raise the taxes companies pay?
The bill imposes a 50 percent excise fee on the excess profits of integrated oil companies.
- Scored +4
Does this repair or build roads and bridges?
A portion of the revenue collected from the excess oil profit fee is transferred directly to the Highway Trust Fund.
- Scored +4
Does this improve buses, trains and other public transport?
Revenue from the fee is also allocated to the Mass Transit Account to support public transportation systems.
The opposite· 3 of 4
- Scored -3
Would business owners be better off under this?
The bill targets integrated oil companies with a significant new tax burden on excess profits.
- Scored -2
Would high-income households be better off under this?
Investors and shareholders in major integrated oil corporations may see reduced profits and dividends.
- Scored -2
Would people with substantial wealth be better off under this?
High-net-worth individuals with substantial holdings in oil corporations could experience lower returns.
Who it would affect, and how
Potential Positive Impacts for People
- Section 2(b) - This section transfers a portion of the revenue collected from the excess oil profit fee into the Highway Trust Fund and the Mass Transit Account. This might be considered positive because it provides funding for public infrastructure and transportation systems.
Potential Negative Impacts for People
- Section 2(a) - This section imposes a 50 percent excise fee on the excess profit of applicable taxpayers, which are integrated oil companies. This might be considered a burden or negative consequence for the companies and potentially consumers if the costs are passed down, though the text only explicitly states the fee is imposed on the taxpayer.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this raise the taxes companies pay? — The bill imposes a 50 percent excise fee on the excess profits of integrated oil companies. Does this reduce what the federal government owes? — The bill generates revenue from excess oil profits, allocating portions to trust funds.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill targets integrated oil companies with a significant new tax burden on excess profits. Would high-income households be better off under this? — Investors and shareholders in major integrated oil corporations may see reduced profits and dividends. Would people with substantial wealth be better off under this? — High-net-worth individuals with substantial holdings in oil corporations could experience lower returns.
- Environment Energy And Infrastructure
- Does this improve buses, trains and other public transport? — Revenue from the fee is also allocated to the Mass Transit Account to support public transportation systems. Does this repair or build roads and bridges? — A portion of the revenue collected from the excess oil profit fee is transferred directly to the Highway Trust Fund. Does this reduce how much oil, gas and coal is produced? — Imposing a heavy excise fee on excess profits may marginally disincentivize large-scale fossil fuel operations for integrated companies.
- Governance And Ideology
- Does this give the federal government more power? — The legislation establishes a new federal fee mechanism and regulatory reporting requirements administered by the Treasury.
- 9/28/2026
- Read twice and referred to the Committee on Finance.
- Introduced in Senate