End Polluter Welfare for Enhanced Oil Recovery Act of 2026
Oil Industry: Ending Tax Breaks for Enhanced Oil Recovery
This bill is currently in the early stages of the legislative process after being sent to the House Committee on Ways and Means for review. It is considered active, but no further meetings or votes have been scheduled yet. There is no companion bill currently associated with this legislation.
Part of: story →Companion bill: Sen. Merkley Introduces the End Polluter Welfare for Enhanced Oil Recovery Act →Legislative Progress
This bill is led by progressive members and faces strong opposition from the oil industry and most Republicans, making it unlikely to move forward in the current Congress.
Key Points
- This bill aims to stop the government from giving tax breaks to oil companies that use carbon dioxide to pull more oil out of the ground. This process is often used to get oil from wells that are mostly empty.
- The plan would completely remove a specific part of the tax code called the Enhanced Oil Recovery credit. This would mean oil companies have to pay more in taxes because they can no longer claim this financial help.
- It also prevents new facilities from getting tax credits for capturing carbon if they use that carbon to help drill for more oil. The goal is to make sure carbon capture technology is used to help the planet instead of helping oil companies.
- If passed, these changes would start for the next tax year. This could save the government money but might also lead to less oil being produced from older American oil fields.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Referred to the House Committee on Ways and Means.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
End Polluter Welfare for Enhanced Oil Recovery Act of 2026
Data Sources
Sponsor
Cosponsors
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