PoliticalRepoPoliticalRepo

Bill · HR

H.R. 383 (119th)

End Oil and Gas Tax Subsidies Act of 2025

Original

referredUnited States· United States Congress· EN

Introduced

14 January 2025

Last action

14 January 2025 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Sean Casten, Donald Beyer, Mike Levin, Julia Brownley, Emanuel Cleaver, Steve Cohen, Jared Huffman, Ro Khanna, Chellie Pingree, Janice Schakowsky, Paul Tonko, Rep. Moore, Gwen [D-WI-4], Del. Norton, Eleanor Holmes [D-DC-At Large], Jamie Raskin, Jerrold Nadler, Yassamin Ansari

Subjects

Transport, Taxation

Source updated

18 July 2026

Transport · Taxation

Official sourceDownload fileView documentsShare

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).

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 14 January 2025

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 14 January 2025

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 14 January 2025

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

Sponsors

Related records

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.