The End Oil and Gas Tax Subsidies Act to eliminate loopholes and tax breaks that benefit the oil and gas industry
Eliminate oil and gas tax subsidies and tax breaks that benefit the oil and gas industry.
Occurrences
Evidence
legacy_unverified · Source version not recorded · locator unknown
Last Action Date Listed: January 14, 2025. Action: Mr. Casten ... introduced the following bill; which was referred to the Committee on Ways and Means. Full Title: To amend the Internal Revenue Code of 1986 to repeal fossil fuel subsidies for oil companies, and for other purposes.
legacy_unverified · Source version not recorded · locator unknown
26 USC 45I: Credit for producing oil and gas from marginal wells. Text contains those laws in effect on August 29, 2026. General rule: the marginal well production credit for any taxable year is an amount equal to the product of the credit amount and qualified crude oil production and qualified natural gas production attributable to the taxpayer.
Assessments
The promised outcome was to eliminate oil and gas tax subsidies and tax breaks. The evidence shows at least one targeted oil and gas tax credit, 26 USC 45I for marginal wells, remained in effect as of August 29, 2026, so the substantive outcome was not delivered. Casten did materially attempt the policy by introducing H.R. 383, the End Oil and Gas Tax Subsidies Act of 2025, in a later House term, but it was only introduced and referred to committee rather than enacted.