A bill to amend the Internal Revenue Code of 1954 to exempt from the windfall profit tax the first thirty-four barrels a day of crude oil production of independent producers and royalty holders.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt independent oil producers, in an amount equal to 34 barrels of crude oil multiplied by the number of days in the quarter, from the windfall profit tax.…