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Tar Sands Oil Tax: Closing the Loophole

This act aims to standardize the taxation of crude oil, including products derived 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, though the direct effect on citizens will depend on various market factors.
Key points
Oil from tar sands will be treated as regular crude oil for excise tax purposes.
The government can tax other fuels if they pose a pollution risk and are produced in significant quantities.
The changes take effect immediately upon the act's enactment.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1026
Sponsor: Sen. Markey, Edward J. [D-MA]
Process start date: 2025-03-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Tar Sands Tax Loophole Elimination Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1026.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-03-13.

What are the main provisions?

Key points include:

  • Oil from tar sands will be treated as regular crude oil for excise tax purposes.
  • The government can tax other fuels if they pose a pollution risk and are produced in significant quantities.
  • The changes take effect immediately upon the act's enactment.
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 Sen. Markey, Edward J. [D-MA].

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 2025-12-23.

CATEGORIES

Taxes Environment Economy