U.S. House · 119th Congress · H.R. 8803
Iran War Oil Crisis Windfall Profits Tax Act
To amend the Internal Revenue Code of 1986 to impose a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers until the President declares that all hostilities with Iran have ceased, the Strait of Hormuz is fully reopened, and the price of oil drops below $75 per barrel.
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- Sponsor
- Brad ShermanD-CA-32
- Introduced
- May 13, 2026, in the House
- Issue areas
- Policy area
- Taxation (from the Congressional Research Service)
- Full text and actions
- congress.gov
Votes on this bill (0)
Neither the House nor the Senate has held a roll-call vote on this bill.
Cosponsors (0)
No member has cosponsored this bill.