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Ending Fossil Fuel Subsidies: Higher Royalties, New Taxes, and Increased Liability.

This legislation aims to eliminate federal subsidies and tax breaks for fossil fuel companies (oil, gas, coal). The bill introduces new taxes, raises royalty rates, and increases financial liability for environmental damages, while restricting federal agency funding for fossil fuel projects.
Key points
Tax Breaks Eliminated: Key tax benefits for the fossil fuel industry (e.g., intangible drilling cost deductions, percentage depletion) are terminated, increasing the financial burden on companies.
Higher Fees and Taxes: Royalty rates for coal and oil/gas extraction on federal lands are raised to a minimum of 18.75%, and a new severance tax is imposed on production in the Gulf of Mexico.
Funding Restrictions: Specific federal agencies (including the Department of Energy and international financial institutions) are prohibited from using funds for projects supporting fossil fuel production or use.
Increased Spill Liability: Limits on financial liability for offshore facilities and pipeline operators in case of oil spills are removed.
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Status:
Expired
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Additional Information
Print number: 118_S_4406
Sponsor: Sen. Sanders, Bernard [I-VT]
Process start date: 2024-05-23
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-3-pro-preview
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

End Polluter Welfare Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4406.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-05-23.

What are the main provisions?

Key points include:

  • Tax Breaks Eliminated: Key tax benefits for the fossil fuel industry (e.g., intangible drilling cost deductions, percentage depletion) are terminated, increasing the financial burden on companies.
  • Higher Fees and Taxes: Royalty rates for coal and oil/gas extraction on federal lands are raised to a minimum of 18.75%, and a new severance tax is imposed on production in the Gulf of Mexico.
  • Funding Restrictions: Specific federal agencies (including the Department of Energy and international financial institutions) are prohibited from using funds for projects supporting fossil fuel production or use.
  • Increased Spill Liability: Limits on financial liability for offshore facilities and pipeline operators in case of oil spills are removed.
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. Sanders, Bernard [I-VT].

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 2025-12-30.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Taxes Environment Economy