Big Oil Windfall Profits Tax Act imposes a tax on crude oil profits and rebates the revenue to taxpayers.

The Big Oil Windfall Profits Tax Act introduces a windfall profits excise tax on crude oil. This tax applies to taxpayers extracting or importing over 300,000 barrels daily. The tax rate is 50% of the difference between the average quarterly Brent crude oil price and the 2025 average price. The collected tax funds the Protect Consumers from Gas Price Hikes Fund, from which rebates are issued to eligible taxpayers. Rebates are calculated based on the number of eligible individuals and fund amounts. The act also includes provisions for coordination with U.S.

Big Oil Windfall Profits Tax Act imposes a tax on crude oil profits and rebates the revenue to taxpayers.

The Big Oil Windfall Profits Tax Act introduces a windfall profits excise tax on crude oil. This tax applies to taxpayers extracting or importing over 300,000 barrels daily. The tax rate is 50% of the difference between the average quarterly Brent crude oil price and the 2025 average price. The collected tax funds the Protect Consumers from Gas Price Hikes Fund, from which rebates are issued to eligible taxpayers. Rebates are calculated based on the number of eligible individuals and fund amounts. The act also includes provisions for coordination with U.S.