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Ending Oil Company Subsidies, Providing Gas Price Rebates to Citizens.

This bill aims to eliminate tax breaks for oil and gas companies. In return, citizens may receive a one-time rebate for high gas prices in 2022, intended to help their household budgets. These changes are set to take effect after December 31, 2022.
Key points
Oil and gas companies will lose existing tax subsidies, potentially increasing their operating costs.
Individuals may receive a rebate of $500 ($1,000 for joint filers) plus $500 for each eligible dependent aged 16 or older, as compensation for 2022 gas prices.
Rebates will be based on 2022 tax returns, and in some cases, advance payments may be issued.
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Additional Information
Print number: 118_HR_1743
Sponsor: Rep. Casten, Sean [D-IL-6]
Process start date: 2023-03-23
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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

People Over Petroleum Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1743.

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 2023-03-23.

What are the main provisions?

Key points include:

  • Oil and gas companies will lose existing tax subsidies, potentially increasing their operating costs.
  • Individuals may receive a rebate of $500 ($1,000 for joint filers) plus $500 for each eligible dependent aged 16 or older, as compensation for 2022 gas prices.
  • Rebates will be based on 2022 tax returns, and in some cases, advance payments may be issued.
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. Casten, Sean [D-IL-6].

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 2025-12-24.

CATEGORIES

Taxes Economy Environment