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, and for other purposes.

3/27/2026, 8:06 AM

Summary of Bill HR 7960

The bill titled "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, and for other purposes" was introduced in the 119th Congress as H.R. 7960 on March 17, 2026.

Current Status of Bill HR 7960

Bill HR 7960 is currently in the status of Bill Introduced since March 17, 2026. Bill HR 7960 was introduced during Congress 119 and was introduced to the House on March 17, 2026. Bill HR 7960's most recent activity was Referred to the House Committee on Ways and Means. as of March 17, 2026

Bipartisan Support of Bill HR 7960

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7960

Primary Policy Focus

Alternate Title(s) of Bill HR 7960

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, and for other purposes.