Bills · S 1026
IN COMMITTEE· 119TH CONGRESS
Senate BillS 1026Taxation
Tar Sands Tax Loophole Elimination Act
INTRO MAR 13· LAST ACTION MAR 13
READING
2MIN
COSPONSORS
6
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it aims to ensure all major sources of petroleum are taxed consistently, potentially increasing funding for environmental cleanup. By explicitly including tar sands and oil shale in the definition of crude oil for tax purposes, it closes a perceived loophole, ensuring these often more carbon-intensive and environmentally challenging fuels contribute to the federal fund dedicated to oil spill response and remediation.
If this bill passes, it could lead to increased revenue for the Oil Spill Liability Trust Fund, which is vital for responding to and cleaning up oil spills, thereby enhancing environmental protection. If it doesn't pass, products from tar sands and oil shale might continue to be exempt from this specific tax, leading to less funding for spill cleanups and potentially giving these fuels a competitive advantage over conventionally taxed petroleum.
KEY PROVISIONS
4AI-extractedPROVISION 01
Explicitly adds oil derived from tar sands, bitumen, and oil shale to the definition of "crude oil" for the federal petroleum excise tax.
Ensures these unconventional oil sources are subject to the same tax as traditional crude oil, potentially increasing tax revenue for spill cleanups.
PROVISION 02
Grants the Treasury Secretary authority to include other fuel feedstocks or finished fuel products under the tax, provided they meet specific environmental and commercial quantity criteria.
Provides flexibility for the government to tax other types of fuels in the future if they pose significant environmental risks from spills.
PROVISION 03
Removes the phrase "from a well located" from the definition of crude oil, clarifying that the tax applies regardless of the extraction method.
Confirms that the excise tax covers all forms of crude oil, including those not extracted through traditional wells, like many unconventional sources.
PROVISION 04
States that the amendments made by this bill will take effect on the date it is signed into law.
Ensures that the tax changes are implemented immediately upon the bill's enactment without any delay.
SPONSORSHIP
1 + 6
D· Massachusetts
YRS IN OFFICE
51
BILLS LED
164
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 5 REP 0 IND 1
ACTION TIMELINE
2 EVENTSMAR 13
Introduced in Senate
MAR 13
Read twice and referred to the Committee on Finance.
BILL INFO
TypeSenate Bill
NumberS 1026
Congress119th
StatusIn Committee
IntroducedMar 13, 2025
Last actionMar 13, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCE COMMITTEE · INTRODUCED MAR 13, 2025
Senate BillS 1026Taxation
Tar Sands Tax Loophole Elimination Act
INTRODUCED MAR 13, 2025· LAST ACTION MAR 13, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
6
COMPLEXITY
Moderate
