Introduced
S. 4588
Introduced in Senate · May 29, 2026May 20, 2026
Mr. Wyden (for himself, Mr. Schumer, Mr. Bennet, Mr. Whitehouse, Mr. Welch, Mr. Kim, Mr. Blumenthal, Mr. Van Hollen, Mr. Reed, Mr. Booker, Ms. Hirono, Mr. Markey, Mr. Merkley, Mr. Schatz, and Ms. Smith) introduced the following bill; which was read twice and referred to the Committee on Finance
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Short title.
This Act may be cited as the “Taxing Buybacks from Big Oil Windfalls Act”.