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Ending tax breaks for carbon dioxide use in enhanced oil recovery.

This bill aims to end tax credits for companies using carbon dioxide in enhanced oil recovery. This means new projects employing this method will no longer qualify for special tax deductions, potentially impacting oil production costs and fuel prices.
Key points
Elimination of tax credits for new enhanced oil recovery projects using carbon dioxide.
Repeal of existing provisions for enhanced oil recovery credits, affecting company tax calculations.
Changes apply to tax years beginning after the bill's enactment date.
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Expired
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Additional Information
Print number: 117_HR_6249
Sponsor: Rep. Khanna, Ro [D-CA-17]
Process start date: 2021-12-13
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

End Polluter Welfare for Enhanced Oil Recovery Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6249.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-12-13.

What are the main provisions?

Key points include:

  • Elimination of tax credits for new enhanced oil recovery projects using carbon dioxide.
  • Repeal of existing provisions for enhanced oil recovery credits, affecting company tax calculations.
  • Changes apply to tax years beginning after the bill's enactment date.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Khanna, Ro [D-CA-17].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Environment Economy