S. 2444
Introduced in Senate · August 6, 2025July 24, 2025
Mr. Sanders (for himself, Ms. Warren, Mr. Merkley, Mr. Welch, Mr. Van Hollen, Mr. Markey, and Mr. Booker) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To eliminate certain subsidies for fossil-fuel production.
1. Short title; 2. Table of contents; TITLE I—ELIMINATION OF FOSSIL FUEL SUBSIDIES; 101. Definition of fossil fuel; 102. Royalty relief; 103. Royalties under Mineral Leasing Act; 104. Offshore oil and gas royalty rate; 105. Elimination of interest payments for royalty overpayments; 106. Removal of limits on liability for offshore facilities and pipeline operators; 107. Restrictions on use of appropriated funds by international financial institutions for projects that support fossil fuel; 108. Office of Fossil Energy and Carbon Management; 109. Loan Programs Office of the Department of Energy; 110. USDA assistance for carbon capture and storage systems; 111. Advanced Research Projects Agency—Energy; 112. Incentives for innovative technologies; 113. Rural Utility Service loan guarantees; 114. Prohibition on use of funds by the United States International Development Finance Corporation or the Export-Import Bank of the United States for financing projects, transactions, or other activities that support fossil fuel; 115. Transportation funds for grants, loans, loan guarantees, and other direct assistance; 116. Elimination of exclusion of certain lenders as owners or operators under CERCLA; TITLE II—AMENDMENTS TO INTERNAL REVENUE CODE OF 1986; 201. Termination of various tax expenditures relating to fossil fuels; 202. Termination of certain deductions and credits related to fossil fuels; 203. Uniform seven-year amortization for geological and geophysical expenditures; 204. Natural gas gathering lines treated as 15-year property; 205. Termination of last-in, first-out method of inventory for oil, natural gas, and coal companies; 206. Repeal of percentage depletion for coal and hard mineral fossil fuels; 207. Termination of capital gains treatment for royalties from coal; 208. Modifications of foreign tax credit rules applicable to oil and gas industry taxpayers receiving specific economic benefits; 209. Increase in oil spill liability trust fund financing rate; 210. Application of certain environmental taxes to synthetic crude oil; 211. Denial of deduction for removal costs and damages for certain oil spills; 212. Tax on crude oil and natural gas produced from the outer Continental Shelf in the Gulf of Mexico; 213. Repeal of corporate income tax exemption for publicly traded partnerships with qualifying income and gains from activities relating to fossil fuels; 214. Amortization of qualified tertiary injectant expenses; 215. Amortization of development expenditures; 216. Amortization of certain mining exploration expenditures; 217. Amortization of intangible drilling and development costs in the case of oil and gas wells; 218. Increase in excise tax rate for funding of Black Lung Disability Trust Fund; 219. Elimination of renewable electricity production credit eligibility for refined coal; 220. Treatment of foreign oil related income as subpart F income; 221. Repeal of exclusion of foreign oil and gas extraction income from the determination of tested income; 222. Termination of credit for carbon oxide sequestration; 223. Eliminate drawbacks on petroleum taxes; 224. Modifying clean hydrogen production credit; TITLE III—REPEAL RECENT FOSSIL FUEL SUBSIDY LEGISLATION; 301. BUILDER Act; 302. Inflation Reduction Act; 303. One Big Beautiful Bill Act; 304. Waste emissions charge rule; TITLE IV—ELIMINATION OF OTHER FOSSIL FUEL SUBSIDIES; 401. Study and elimination of additional fossil fuel subsidies