End Oil and Gas Tax Subsidies Act of 2025
Introduced Jan 14, 2025 by Rep. Sean Casten
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
This bill repeals or limits tax deductions and credits related to oil and gas production; increases the amortization period of geological and geophysical expenses; prohibits the use of the last-in, first-out (LIFO) accounting method by certain oil companies; and expands the definition of crude oil for certain purposes.
The bill repeals the
tax credits for producing oil and gas from marginal wells and enhanced oil recovery,
tax deduction for intangible drilling and development costs for oil and gas wells,
Read the full summary on Congress.govSummary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.