ThePolitibase
H.R. 8803In Committee

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.

Sponsor
Rep. Sherman, Brad [D-CA-32]
D · CA-32
Key facts
Introduced: May 13, 2026
Chamber: House
Cosponsors: 0
Congress: 119th
Latest action · May 13, 2026
Referred to the House Committee on Ways and Means.

Timeline

  1. May 13, 2026
    Referred to the House Committee on Ways and Means.
  2. May 13, 2026
    Introduced in House
  3. May 13, 2026
    Introduced in House

In the News

View official record on Congress.gov →
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