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Ending Oil Company Tax Breaks: Higher Fees for Oil and Gas Extraction.

This bill aims to increase government revenue by requiring oil and gas companies to pay royalties when oil and gas prices are high. This means companies currently benefiting from royalty relief will need to renegotiate their existing leases to be eligible for new ones. In the long run, this could impact energy prices, although the direct impact on citizens is not immediate.
Key points
Oil and gas companies seeking new drilling permits in the Gulf of Mexico must pay royalties when oil and gas prices reach specified thresholds.
Existing leases without such royalty provisions must be renegotiated for companies to qualify for new permits or transfer existing ones.
The changes aim to boost government revenue from resource extraction, potentially impacting public finances.
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Status: Introduced
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Additional Information
Print number: 119_HR_2053
Sponsor: Rep. Grijalva, Raúl M. [D-AZ-7]
Process start date: 2025-03-11
System Note: Lustra is free, publicly auditable civic infrastructure — 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-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Stop Giving Big Oil Free Money Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2053.

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 2025-03-11.

What are the main provisions?

Key points include:

  • Oil and gas companies seeking new drilling permits in the Gulf of Mexico must pay royalties when oil and gas prices reach specified thresholds.
  • Existing leases without such royalty provisions must be renegotiated for companies to qualify for new permits or transfer existing ones.
  • The changes aim to boost government revenue from resource extraction, potentially impacting public finances.
What is the specific legal status?

The current status is Introduced.

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. Grijalva, Raúl M. [D-AZ-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Natural Resources.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

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

Economy Environment Taxes