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Oil Tax: Ending Loopholes for Tar Sands Products

This act redefines crude oil for tax purposes, including products derived from tar sands. This means these products will now be subject to federal excise tax, potentially affecting their prices and availability. The change aims to standardize taxation across various types of oil and fuels.
Key points
Products from tar sands, like oil from bituminous mixtures, will now be considered crude oil for tax purposes.
This subjects these products to a federal excise tax, which may not have been the case before.
The Treasury Secretary gains authority to tax other fuel types if they pose a significant risk of discharge.
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Additional Information
Print number: 117_S_683
Sponsor: Sen. Markey, Edward J. [D-MA]
Process start date: 2021-03-10
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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

Tar Sands Tax Loophole Elimination Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_683.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-10.

What are the main provisions?

Key points include:

  • Products from tar sands, like oil from bituminous mixtures, will now be considered crude oil for tax purposes.
  • This subjects these products to a federal excise tax, which may not have been the case before.
  • The Treasury Secretary gains authority to tax other fuel types if they pose a significant risk of discharge.
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 Sen. Markey, Edward J. [D-MA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Environment