S. 4111: Big Oil Windfall Profits Tax Act

S. 4111 is a federal bill in the 119th Congress. Large oil companies that extract or import more than 300,000 barrels of crude oil per day will pay a new tax whenever the average price of Brent crude oil exceeds the average price from the year 2025. Before this law, large oil producers paid standard… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.