Big Oil Windfall Profits Tax Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4111 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4111 To amend the Internal Revenue Code of 1986 to impose a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES March 17, 2026 Mr. Whitehouse (for himself, Ms. Baldwin, Mr. Blumenthal, Mr. Booker, Mr. Kaine, Mr. Markey, Mr. Merkley, Mr. Murphy, Mr. Reed, Mr. Sanders, Ms. Smith, and Ms. Warren) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to impose a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Big Oil Windfall Profits Tax Act''. SEC. 2.…