Imposes a fee on excess oil profits of integrated oil companies.

The bill amends the Internal Revenue Code to impose a fee on excess oil profits of integrated oil companies. The fee is equal to 50% of the excess profit for any taxable year beginning after December 31, 2025. The fee is not deductible. The Secretary of the Treasury must provide rules for the withholding and deposit of the fee. Revenue from the fee is transferred to the Highway Trust Fund and the Mass Transit Account. The bill includes definitions and special rules for the fee.

Imposes a fee on excess oil profits of integrated oil companies.

The bill amends the Internal Revenue Code to impose a fee on excess oil profits of integrated oil companies. The fee is equal to 50% of the excess profit for any taxable year beginning after December 31, 2025. The fee is not deductible. The Secretary of the Treasury must provide rules for the withholding and deposit of the fee. Revenue from the fee is transferred to the Highway Trust Fund and the Mass Transit Account. The bill includes definitions and special rules for the fee.