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Ending Tax Breaks for Oil Companies Using Carbon for Extraction

This bill removes tax credits for oil companies that use carbon dioxide to boost oil production. It aims to stop government financial support for fossil fuel extraction methods.
Key points
Repeals the Enhanced Oil Recovery tax credit entirely.
Ends tax benefits for using carbon oxide to extract oil in facilities built after the law passes.
Reduces public subsidies for polluting industries.
Applies changes to tax years beginning after the date of enactment.
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Status:
Introduced
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Additional Information
End Polluter Welfare for Enhanced Oil Recovery Act of 2026
Print number: HR 8108
Sponsor: Rep. Khanna, Ro [D-CA-17]
Process start date: 2026-03-26