Oil & Gas Credits and Deductions Prohibition During High Gasoline Prices
Current understanding
To be populated as evidence accumulates.
Evidence log
- 2026-03-17 — Big Oil Windfall Profits Tax Act: cross-connection with big-oil-windfall-profits-tax: Both target oil-industry tax treatment during periods of elevated prices/profits — one via windfall tax, the other by denying credits/deductions. (novelty: 2)
- 2026-04-30 — To amend the Internal Revenue Code of 1986 to temporarily suspend certain fuel excise taxes for fuel separated during periods in which the national average price of gasoline exceeds $3.99 per gallon, and to prohibit certain credits or deductions for oil and gas companies during such periods.: HR8600 (119th Congress) introduced and referred to House Ways and Means; would prohibit certain tax credits and deductions for oil and gas companies during periods when the national average gasoline price exceeds $3.99/gal, increasing tax liability for those firms in high-price windows. (novelty: 2)
Open questions
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Contributing findings
To amend the Internal Revenue Code of 1986 to temporarily suspend certain fuel excise taxes for fuel separated during periods in which the national average price of gasoline exceeds $3.99 per gallon, and to prohibit certain credits or deductions for oil and gas companies during such periods.
30-apr-2026
novelty 2
per-area 2
introduces