S. 4604: Protecting America’s Small Oil and Gas Producers and Rural Jobs Act

S. 4604 is a federal bill in the 119th Congress. Small oil and gas producers will see changes in how much tax they pay on oil extracted from marginal wells. Previously, tax deductions for these wells were capped at a flat 15 percent rate and limited by the overall taxable income of the producer, and the… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.