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Ending Tar Sands Oil Tax Loopholes

This act redefines crude oil for tax purposes, including products from tar sands. This means companies extracting oil from these sources will pay the same excise taxes as for traditional crude oil. This could impact fuel prices and transportation costs, as well as investments in alternative energy sources.
Key points
Tar sands oil will be taxed the same as traditional crude oil.
The government gains power to tax other fuels if they pose pollution risks.
Changes may affect future fuel prices and transportation costs.
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Introduced
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Additional Information
Print number: 119_HR_2224
Sponsor: Rep. Schakowsky, Janice D. [D-IL-9]
Process start date: 2025-03-18