End federal tax breaks for Big Oil.

Senator Hassan continues to focus on going after Big Oil’s billions in tax breaks and is pushing to suspend the federal gas tax.

Hassan says she is continuing to target Big Oil tax breaks.

Priorities - Maggie Hassan | U.S. Senator for New Hampshire
campaign · campaign_site · model gpt-5.5

The fiscal and clean energy sections say Big Oil and fossil fuel tax preferences should be ended.

Hassan committed to ending Big Oil or fossil fuel tax breaks.

Innovate NH 2.0: A Granite State Roadmap for Fostering Innovation, Supporting Job-Creating Businesses and Expanding Opportunity
campaign · campaign_site · model gpt-5.5

Hassan's office said she joined colleagues in reintroducing the Close Big Oil Tax Loopholes Act of 2017, legislation to repeal tax subsidies for the Big 5 oil companies and shift $22 billion in savings over ten years to deficit reduction.

Hassan took concrete legislative action in her first Senate term to pursue the promise, but the press release itself reports an introduced bill, not enacted law.

never same_term A for effort

Senators Shaheen, Hassan Help Introduce Legislation to End Taxpayer Subsidies for Big Oil, Reduce National Deficit
secondary · model gpt-5.5 · confidence 93%

Congress.gov lists S.1710 as introduced August 2, 2017, referred to the Senate Finance Committee, and remaining at status Introduced. CRS summary says the bill would limit or repeal tax benefits for major integrated oil companies, including foreign tax credit rules, deductions for oil and gas income, intangible drilling costs, percentage depletion, tertiary injectants, and royalty relief.

The main bill aligned with the promise did not advance beyond introduction, so it did not fulfill the promise despite a concrete effort.

never same_term A for effort

S.1710 - Close Big Oil Tax Loopholes Act, 115th Congress
secondary · model gpt-5.5 · confidence 95%

Congress.gov cosponsor records list Sen. Hassan, Margaret Wood [D-NH] as an original cosponsor of S.1710 on August 2, 2017.

This confirms Hassan personally backed the 2017 bill to close Big Oil tax loopholes, supporting an effort badge but not delivery because the bill stayed introduced.

never same_term A for effort

Cosponsors - S.1710 - Close Big Oil Tax Loopholes Act, 115th Congress
secondary · model gpt-5.5 · confidence 94%

Public Law 115-97 section 13305 repealed Internal Revenue Code section 199, the deduction for income attributable to domestic production activities, effective for taxable years beginning after December 31, 2017. IRS guidance describes section 199 as previously applying to qualified production activities including manufacturing, producing, growing, or extracting.

One oil-and-gas-related production deduction targeted by Big Oil subsidy repeal proposals was eliminated, but this did not end the broader set of oil and gas tax preferences.

partial same_term

Public Law 115-97, Section 13305 - Repeal of Deduction for Income Attributable to Domestic Production Activities
secondary · model gpt-5.5 · confidence 88%

IRS Publication 535 states that taxpayers can elect to deduct intangible drilling costs for U.S. oil and gas wells as a current business expense, and that independent producers and royalty owners may use percentage depletion at 15% of gross income from domestic crude oil or natural gas, subject to limits.

Federal oil and gas tax preferences remained in IRS guidance after Hassan's first term, so the broad promise to end federal tax breaks for Big Oil was not fully delivered.

never later_term

IRS Publication 535 (2022), Business Expenses
secondary · model gpt-5.5 · confidence 90%