Senate Bill 4887
116th Congress(2019-2020)
End Polluter Welfare Act of 2020
Introduced
Introduced in Senate on Nov 10, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4887
Congress
116
Policy Area
Energy
Energy
Primary focus of measure is all sources and supplies of energy, including alternative energy sources, oil and gas, coal, nuclear power; efficiency and conservation; costs, prices, and revenues; electric power transmission; public utility matters.
No Senate votes have been held for this bill.
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.
November 10, 2020
11/10/2020
Read twice and referred to the Committee on Finance.
11/10/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:44:11 PM