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- S.1907
S.1907: Close Big Oil Tax Loopholes Act
About This Bill
- Introduced July 30, 2015
- Latest Major Action July 30, 2015
- See the four similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
18 (All Democrats)
Bill Summary
Close Big Oil Tax Loopholes Act Amends the Internal Revenue Code to limit or repeal certain tax benefits for major integrated oil companies (defined as companies with annual gross receipts over $1 billion and an average daily worldwide production of crude oil of at least 500,000 barrels or certain successors in interest of such companies), including: (1) the foreign tax credit for companies that are dual capacity taxpayers; (2) the tax...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| July 30, 2015 |
Read twice and referred to the Committee on Finance.
|
| July 30, 2015 |
Introduced in the Senate by Robert Menendez (D-N.J.) |