Taxing Buybacks from Big Oil Windfalls Act

Hozzl · 2026-06-16T15:01:23Z

Explore the details of Senate Bill 4588 Taxing Buybacks from Big Oil Windfalls Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

6/16/2026, 3:01 PM

Summary of Bill S 4588

The bill titled "A bill to amend the Internal Revenue Code of 1986 to increase the excise tax for the repurchase of corporate stock by large oil and gas companies" was introduced in the 119th Congress on May 20, 2026.

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Current Status of Bill S 4588

Bill S 4588 is currently in the status of Bill Introduced since May 20, 2026. Bill S 4588 was introduced during Congress 119 and was introduced to the Senate on May 20, 2026. Bill S 4588's most recent activity was Read twice and referred to the Committee on Finance. as of May 20, 2026

Bipartisan Support of Bill S 4588

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Policy Area and Potential Impact of Bill S 4588

Primary Policy Focus

Alternate Title(s) of Bill S 4588

Taxing Buybacks from Big Oil Windfalls Act

A bill to amend the Internal Revenue Code of 1986 to increase the excise tax for the repurchase of corporate stock by large oil and gas companies.

Comments

Santos Mercer

1,078

1 month ago

This bill is so dumb, taxing buybacks from big oil windfalls? Like, what even is that? It's just gonna hurt regular folks like me who rely on affordable gas prices. This is just another way for the government to line their pockets while we suffer. Who benefits from this nonsense? Certainly not the hardworking Americans trying to make ends meet.