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Close Big Oil Tax Loopholes Act
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 3,548 other S bills in the 114th — cohort avg 43d
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 deduction for income attributable to the production, refining, processing, transportation, or distribution of oil, natural gas, or primary products thereof; (3) the tax deduction for intangible drilling and development costs; (4) the percentage depletion allowance for oil and gas wells; and (5) the tax deduction for qualified tertiary injectant expenses. Amends the Energy Policy Act of 2005 to repeal royalty relief (suspension of royalties) for: (1) natural gas production from deep wells in shallow waters of the Gulf of Mexico; and (2) deep water oil and gas production in the Western and Central Planning Area of the Gulf (including the portion of the Eastern Planning Area encompassing whole lease blocks lying west of 87 degrees, 30 minutes west longitude). Dedicates any increased revenue generated by this Act to the reduction of a federal budget deficit or the federal debt. Provides for compliance of the budgetary effects of this Act with the Statutory Pay-As-You-Go Act of 2010.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (2)
2016 · fourth_quarter · Taxation/Internal Revenue Code
HR 636: FAA Extension, Safety, and Security Act of 2016: provisions related to revenue and funding S. 155: Fair Tax Act of 2015: provisions related to revenue and funding S. 1736: Incentivizing Offshore Wind Power Act; provisions related to revenue and funding S. 1907: Close Big Oil Tax Loopholes Act; provisions related to revenue and funding S. 2117: A bill to prevent certain discriminatory taxation of natural gas pipeline property; provisions related to revenue and funding S. 3506: Tax Technical Corrections Act of 2016; provisions related to revenue and funding S Res 472: A resolution expressing the sense of the Senate that a carbon tax would be detrimental to the economy of the United States; provisions related to carbon tax Discussions related to Speaker Ryans Better Way Blueprint for Tax Reform; provisions related to corporate taxation Discussions related to proposed Department of Treasury/IRS Section 385 Regulations; all provisions
Read twice and referred to the Committee on Finance.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Client expense: $3,000,000 · Firm income: Not reported
Government targets: Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Consumer Product Safety Commission (CPSC), Federal Bureau of Investigation (FBI), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Office of Management & Budget (OMB), SENATE, State, Dept of (DOS), White House Office
2016 · third_quarter · Taxation/Internal Revenue Code
HR 636: Americas Small Business Tax Relief Act of 2015; provisions related to revenue and funding S. 155: Fair Tax Act of 2015: provisions related to revenue and funding S. 1736: Incentivizing Offshore Wind Power Act; provisions related to revenue and funding S. 1907: Close Big Oil Tax Loopholes Act; provisions related to revenue and funding S. 2117: A bill to prevent certain discriminatory taxation of natural gas pipeline property; provisions related to revenue and funding S Res 472: A resolution expressing the sense of the Senate that a carbon tax would be detrimental to the economy of the United States; provisions related to carbon tax Discussions related to Speaker Ryans Better Way Blueprint for Tax Reform; all provisions Discussions related to proposed Department of Treasury/IRS Section 385 Regulations; all provisions
Client expense: $3,100,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Commerce, Dept of (DOC), Consumer Product Safety Commission (CPSC), Council on Environmental Quality (CEQ), Environmental Protection Agency (EPA), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Internal Revenue Service (IRS), Office of Management & Budget (OMB), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · third_quarter · Taxation/Internal Revenue Code
Miscellaneous international and domestic corporate tax issues; the Presidents Fiscal Year 2017 Budget Proposal; S 922; S 1907. Proposed 385 regulations. House Republican Tax Reform Blueprint.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2016 · second_quarter · Taxation/Internal Revenue Code
HR 636: Americas Small Business Tax Relief Act of 2015; provisions related to revenue and funding S. 155: Fair Tax Act of 2015: provisions related to revenue and funding S. 1736: Incentivizing Offshore Wind Power Act; provisions related to revenue and funding S. 1907: Close Big Oil Tax Loopholes Act; provisions related to revenue and funding S. 2117: A bill to prevent certain discriminatory taxation of natural gas pipeline property; provisions related to revenue and funding S Res 472: A resolution expressing the sense of the Senate that a carbon tax would be detrimental to the economy of the United States; provisions related to carbon tax Discussions related to Tax Blueprint Discussion related to tax reform and corporate integration Discussions related to proposed Department of Treasury/IRS Section 385 Regulations; provisions related to debt to equity rules
Client expense: $2,460,000 · Firm income: Not reported
Government targets: Bureau of Land Management (BLM), Energy, Dept of, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Minerals Management Service, Office of Management & Budget (OMB), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · second_quarter · Taxation/Internal Revenue Code
Miscellaneous international and domestic corporate tax issues; the Presidents Fiscal Year 2017 Budget Proposal; S 922; S 1907. Proposed 385 regulations.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, Treasury, Dept of
2016 · first_quarter · Taxation/Internal Revenue Code
HR 636: Americas Small Business Tax Relief Act of 2015; provisions related to taxes S. 155: Fair Tax Act of 2015: provisions related to revenue and funding S. 1736: Incentivizing Offshore Wind Power Act; provisions related to revenue and funding S. 1907: Close Big Oil Tax Loopholes Act; provisions related to revenue and funding S. 2117: A bill to prevent certain discriminatory taxation of natural gas pipeline property; provisions related to revenue and funding Discussions related to Section 199 and integration proposals
Client expense: $3,280,000 · Firm income: Not reported
Government targets: Council on Environmental Quality (CEQ), HOUSE OF REPRESENTATIVES, Interior, Dept of (DOI), Office of Management & Budget (OMB), SENATE, White House Office
2016 · first_quarter · Taxation/Internal Revenue Code
Miscellaneous international and domestic corporate tax issues; the Presidents Fiscal Year 2017 Budget Proposal; S 922; S 1907.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2015 · fourth_quarter · Taxation/Internal Revenue Code
HR 22: Fixing Americas Surface Transportation (FAST) Act; provisions related to revenue and funding HR 2029: Consolidated Appropriations Act, 2016; provisions related to revenue and funding S. 155: Fair Tax Act of 2015: provisions related to revenue and funding S. 917: LNG and LPG Excise Tax Equalization Act of 2015: provisions related to revenue and funding S. 1736: Incentivizing Offshore Wind Power Act; provisions related to revenue and funding S. 1907: Close Big Oil Tax Loopholes Act; provisions related to revenue and funding S. 2117: A bill to prevent certain discriminatory taxation of natural gas pipeline property; provisions related to revenue and funding
Client expense: $2,790,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Council on Environmental Quality (CEQ), Energy, Dept of, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Office of Management & Budget (OMB), SENATE, U.S. Trade Representative (USTR), White House Office
2015 · fourth_quarter · Taxation/Internal Revenue Code
Miscellaneous international and domestic corporate tax issues; the Presidents Fiscal Year 2016 Budget Proposal; S 922; S 1907.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2015 · third_quarter · Taxation/Internal Revenue Code
HR 22: Developing a Reliable and Innovative Vision for the Economy (DRIVE) Act; provisions related to revenue and funding HR 3236: Surface Transportation and Veterans Health Care Choice Improvement Act of 2015; provisions related to revenue and funding S. 155: Fair Tax Act of 2015: provisions related to revenue and funding S. 917: LNG and LPG Excise Tax Equalization Act of 2015: provisions related to revenue and funding S. 1736: Incentivizing Offshore Wind Power Act; provisions related to revenue and funding S. 1907: Close Big Oil Tax Loopholes Act; provisions related to revenue and funding S. 2117: A bill to prevent certain discriminatory taxation of natural gas pipeline property; provisions related to revenue and funding Discussions related to tax reform Discussions related to international tax issues Discussions related to various tax proposals
Client expense: $3,560,000 · Firm income: Not reported
2015 · third_quarter · Taxation/Internal Revenue Code
Miscellaneous international and domestic corporate tax issues; the Presidents Fiscal Year 2016 Budget Proposal; S 922; S 1907.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| CA |
| Benjamin L. Cardin | Democratic | MD |
| Bill Nelson | Democratic | FL |
| Charles E. Schumer | Democratic | NY |
| Debbie Stabenow | Democratic | MI |
| Dianne Feinstein | Democratic | CA |
| Edward J. Markey | Democratic | MA |
| Gary C. Peters | Democratic | MI |
| Jack Reed | Democratic | RI |
| Jeanne Shaheen | Democratic | NH |
| Jeff Merkley | Democratic | OR |
| Patrick J. Leahy | Democratic | VT |
| Patty Murray | Democratic | WA |
| Richard J. Durbin | Democratic | IL |
| Sheldon Whitehouse | Democratic | RI |
Government targets: Bureau of Land Management (BLM), Commerce, Dept of (DOC), Consumer Product Safety Commission (CPSC), Council on Environmental Quality (CEQ), Energy, Dept of, Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Office of Management & Budget (OMB), SENATE, Treasury, Dept of, U.S. Coast Guard (USCG), U.S. Trade Representative (USTR), White House Office