S. 4887 — End Polluter Welfare Act of 2020

Summary

End Polluter Welfare Act of 2020

This bill limits or eliminates certain fossil fuel subsidies for oil, coal, and natural gas companies, including by

eliminating the authority of the Department of Energy to carry out the Fossil Energy Research and Development Program;
expanding the definition of crude oil for purposes of the excise tax on petroleum and petroleum products to include any oil derived from a bitumen or bituminous mixture (tar sands), any liquid fuel derived from coal, and any oil derived from kerogen-bearing sources (oil shale);
limiting the financial assistance that such companies may receive from programs that provide relief to businesses affected by the COVID-19 pandemic;
terminating certain tax incentives relating to fossil fuels, including the percentage depletion allowance and capital gains treatment for royalties from coal; and
increasing the Oil Spill Liability Trust Fund financing rate.

H.R. 6707ReWIND Act
2020-05-27Referred to the Subcommittee on Energy and Mineral Resources.
Related
S. 3611ReWIND Act
2020-05-05Read twice and referred to the Committee on Energy and Natural Resources.
Related
S. 5081Big Oil Bailout Prevention Unlimited Liability Act of 2020
2020-12-21Read twice and referred to the Committee on Environment and Public Works.
Related
H.R. 7781End Polluter Welfare Act of 2020
2020-09-03Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Related