End Oil and Gas Tax Subsidies Act of 2025
Latest action · Jan 14, 2025 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 14, 2025
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
End Oil and Gas Tax Subsidies Act of 2025
This bill repeals or limits tax deductions and credits related to oil and gas production; increases the amortization period of geological and geophysical expenses; prohibits the use of the last-in, first-out (LIFO) accounting method by certain oil companies; and expands the definition of crude oil for certain purposes.
The bill repeals the
- tax credits for producing oil and gas from marginal wells and enhanced oil recovery,
- tax deduction for intangible drilling and development costs for oil and gas wells,
- percentage depletion,
- tax deduction for tertiary injectant expenses, and
- exception to the passive loss limitations for working interests in oil and gas property.
The bill increases the amortization period for geological and geophysical expenses from two years to seven years and prohibits major integrated oil companies from using the LIFO accounting method.
The bill excludes from the qualified business income tax deduction items related to oil and gas production, refining, processing, transporting, and distribution.
The bill provides statutory authority for Internal Revenue Service regulations that exclude from the definition of a tax for purposes of the foreign tax credit levies imposed by foreign countries or U.S. possessions on persons that receive a specific economic benefit from the country or possession.
Finally, the bill defines crude oil for purposes of the excise tax on imported petroleum and crude oil to include bitumen or bituminous mixtures or oil derived from such mixtures (including tar sands) and oil derived from kerogen-bearing sources (including oil shale).
Cosponsors 16
Members who signed on, in the order they did. Signatures ran from Jan 14, 2025 to Sep 1, 2026; 11 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-ME | Chellie Pingree | Original | Jan 14, 2025 |
| D-VA | Donald S. Beyer, Jr. | Original | Jan 14, 2025 |
| D-MO | Emanuel Cleaver | Original | Jan 14, 2025 |
| D-WI | Gwen Moore | Original | Jan 14, 2025 |
| D-IL | Janice D. Schakowsky | Original | Jan 14, 2025 |
| D-CA | Jared Huffman | Original | Jan 14, 2025 |
| D-CA | Julia Brownley | Original | Jan 14, 2025 |
| D-CA | Mike Levin | Original | Jan 14, 2025 |
| D-NY | Paul Tonko | Original | Jan 14, 2025 |
| D-CA | Ro Khanna | Original | Jan 14, 2025 |
| D-TN | Steve Cohen | Original | Jan 14, 2025 |
| D-DC | Eleanor Holmes Norton | Jan 15, 2025 | |
| D-MD | Jamie Raskin | Jan 16, 2025 | |
| D-NY | Jerrold Nadler | Mar 26, 2025 | |
| D-AZ | Yassamin Ansari | Jul 22, 2025 | |
| D-CA | Zoe Lofgren | Sep 1, 2026 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jan 14, 2025 |
Actions 2
Everything that happened, newest first.
- Jan 14, 2025Introduced in House
- Jan 14, 2025Referred to the House Committee on Ways and Means.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 171, no. 7, January 14, 2025, page H149.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| IF13049 | The Oil Spill Liability Trust Fund Tax: Background and Selected Issues | Resource | Jun 30, 2025 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1026 | Tar Sands Tax Loophole Elimination Act | Related bill | Mar 13, 2025 |
| HR 2224 | Tar Sands Tax Loophole Elimination Act | Related bill | Mar 18, 2025 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Internal Revenue Code of 1986 to repeal fossil fuel subsidies for oil companies, and for other purposes.
- Short Title(s) as Introduced
- End Oil and Gas Tax Subsidies Act of 2025
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jan 14, 2025Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
