End Polluter Welfare Act of 2020
USA116th CongressS-4887| Senate
| Updated: 11/10/2020
Bernard Sanders
Independent Senator
Vermont
Finance Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Energy
Accounting and auditingAdministrative law and regulatory proceduresAdvanced technology and technological innovationsAgricultural prices, subsidies, creditAir qualityAlternative and renewable resourcesBanking and financial institutions regulationBusiness expensesBusiness investment and capitalCapital gains taxCardiovascular and respiratory healthClimate change and greenhouse gasesCoalCompetitiveness, trade promotion, trade deficitsCongressional oversightCorporate finance and managementCredit and credit marketsDepartment of EnergyDepartment of the InteriorDepartment of the TreasuryElectric power generation and transmissionEmergency medical services and trauma careEnergy pricesEnergy researchEnergy revenues and royaltiesEnergy storage, supplies, demandExecutive agency funding and structureExport-Import Bank of the United StatesFinancial services and investmentsForeign and international corporationsForeign loans and debtGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigationsGovernment trust fundsGulf of MexicoHazardous wastes and toxic substancesIncome tax creditsIncome tax deductionsInfectious and parasitic diseasesInterest, dividends, interest ratesMarine and coastal resources, fisheriesMarine pollutionMilitary procurement, research, weapons developmentMiningMontanaMotor fuelsMultilateral development programsNavigation, waterways, harborsOil and gasPipelinesPollution liabilityPublic contracts and procurementPublic participation and lobbyingRailroadsResearch administration and fundingResearch and developmentRural conditions and developmentSales and excise taxesSecuritiesSolid waste and recyclingStrategic materials and reservesTax administration and collection, taxpayersTaxation of foreign incomeTransportation programs fundingWorker safety and healthWyoming
End Polluter Welfare Act of 2020
USA116th CongressS-4887| Senate
| Updated: 11/10/2020
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.
View Full TextSuggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Bernard Sanders
Independent Senator
Vermont
Finance Committee
Energy
Related Bills
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Accounting and auditingAdministrative law and regulatory proceduresAdvanced technology and technological innovationsAgricultural prices, subsidies, creditAir qualityAlternative and renewable resourcesBanking and financial institutions regulationBusiness expensesBusiness investment and capitalCapital gains taxCardiovascular and respiratory healthClimate change and greenhouse gasesCoalCompetitiveness, trade promotion, trade deficitsCongressional oversightCorporate finance and managementCredit and credit marketsDepartment of EnergyDepartment of the InteriorDepartment of the TreasuryElectric power generation and transmissionEmergency medical services and trauma careEnergy pricesEnergy researchEnergy revenues and royaltiesEnergy storage, supplies, demandExecutive agency funding and structureExport-Import Bank of the United StatesFinancial services and investmentsForeign and international corporationsForeign loans and debtGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigationsGovernment trust fundsGulf of MexicoHazardous wastes and toxic substancesIncome tax creditsIncome tax deductionsInfectious and parasitic diseasesInterest, dividends, interest ratesMarine and coastal resources, fisheriesMarine pollutionMilitary procurement, research, weapons developmentMiningMontanaMotor fuelsMultilateral development programsNavigation, waterways, harborsOil and gasPipelinesPollution liabilityPublic contracts and procurementPublic participation and lobbyingRailroadsResearch administration and fundingResearch and developmentRural conditions and developmentSales and excise taxesSecuritiesSolid waste and recyclingStrategic materials and reservesTax administration and collection, taxpayersTaxation of foreign incomeTransportation programs fundingWorker safety and healthWyoming