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Ending Tax Subsidies for Enhanced Oil Recovery and Carbon Use in New Projects.

This legislation eliminates two major tax credits that financially supported oil extraction using Enhanced Oil Recovery (EOR) methods. It specifically ends federal subsidies for oil companies that use captured carbon dioxide to boost oil production in new facilities. The goal is to reduce public financial support for fossil fuel extraction activities, potentially affecting energy companies' operating costs.
Key points
The complete repeal of the federal tax credit (Section 43) for costs associated with Enhanced Oil Recovery (EOR).
New oil extraction facilities will no longer receive tax credits for capturing carbon dioxide if that gas is used to inject into oil fields to extract more crude oil.
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Expired
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Additional Information
Print number: 118_HR_9838
Sponsor: Rep. Khanna, Ro [D-CA-17]
Process start date: 2024-09-25
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

End Polluter Welfare for Enhanced Oil Recovery Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_9838.

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 2024-09-25.

What are the main provisions?

Key points include:

  • The complete repeal of the federal tax credit (Section 43) for costs associated with Enhanced Oil Recovery (EOR).
  • New oil extraction facilities will no longer receive tax credits for capturing carbon dioxide if that gas is used to inject into oil fields to extract more crude oil.
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 2025-12-26.

CATEGORIES

Taxes Environment Economy