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SENATE 408118th CongressResolution agreed to in Senate with an amendment and an amended preamble by Unanimous Consent. (text of amendment in the nature of a substitute: CR S5463)

A resolution condemning Hamas for its premeditated, coordinated, and brutal terrorist attacks on Israel and demanding that Hamas immediately release all hostages and return them to safety, and for other purposes.

Last Action
11/9/2023

Actions

  • 2023-02-14Read twice and referred to the Committee on Finance.
  • 2023-02-14Introduced in Senate

CRS Summary

As of 2023-02-14 (00)

Big Oil Windfall Profits Tax Act

This bill imposes an excise tax on the windfall profits of crude oil on taxpayers who extracted and imported more than 300,000 barrels (a barrel equals 42 U.S. gallons) of taxable crude oil (i.e., crude oil, crude oil condensates, and natural gasoline) in 2019, or who extracted and imported that amount in the current calendar quarter.

The bill requires rebates of the tax collected to be paid to individual taxpayers. The bill establishes the Protect Consumers from Gas Hikes Fund to finance such rebates.

Cosponsors (18)

  • Alex Padilla (D-CA)
  • Jeff Merkley (D-OR)
  • Sherrod Brown (D-OH)
  • Bob Casey (D-PA)
  • Elizabeth Warren (D-MA)
  • Edward Markey (D-MA)
  • Richard Blumenthal (D-CT)
  • Michael Bennet (D-CO)
  • Christopher Murphy (D-CT)
  • Timothy Kaine (D-VA)
  • Raphael Warnock (D-GA)
  • Tammy Baldwin (D-WI)
  • Cory Booker (D-NJ)
  • Debbie Stabenow (D-MI)
  • Bernard Sanders (I-VT)
  • John Reed (D-RI)
  • Dianne Feinstein (D-CA)
  • Peter Welch (D-VT)
Read on Congress.gov

Sourced from Congress.gov (public domain).

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