{"@context":"https://schema.org","@type":"Legislation","name":"End Polluter Welfare Act of 2020","description":"

End Polluter Welfare Act of 2020

This bill limits or eliminates certain fossil fuel subsidies for oil, coal, and natural gas companies, including by

eliminating the authority of the Department of Energy to carry out the Fossil Energy Research and Development Program;
expanding the definition of crude oil for purposes of the excise tax on petroleum and petroleum products to include any oil derived from a bitumen or bituminous mixture (tar sands), any liquid fuel derived from coal, and any oil derived from kerogen-bearing sources (oil shale);
limiting the financial assistance that such companies may receive from programs that provide relief to businesses affected by the COVID-19 pandemic;
terminating certain tax incentives relating to fossil fuels, including the percentage depletion allowance and capital gains treatment for royalties from coal; and
increasing the Oil Spill Liability Trust Fund financing rate.

","legislationIdentifier":"S 4887","legislationType":"Bill","legislationLegalForce":"NotInForce","legislationJurisdiction":"USA","author":[{"@type":"Person","name":"Bernard Sanders","url":"https://legisdaily.com/mp/bernard-sanders-us"}],"about":{"@type":"Thing","name":"Energy"},"keywords":"Accounting and auditing, Administrative law and regulatory procedures, Advanced technology and technological innovations, Agricultural prices, subsidies, credit, Air quality, Alternative and renewable resources, Banking and financial institutions regulation, Business expenses, Business investment and capital, Capital gains tax, Cardiovascular and respiratory health, Climate change and greenhouse gases, Coal, Competitiveness, trade promotion, trade deficits, Congressional oversight, Corporate finance and management, Credit and credit markets, Department of Energy, Department of the Interior, Department of the Treasury, Electric power generation and transmission, Emergency medical services and trauma care, Energy prices, Energy research, Energy revenues and royalties, Energy storage, supplies, demand, Executive agency funding and structure, Export-Import Bank of the United States, Financial services and investments, Foreign and international corporations, Foreign loans and debt, Government information and archives, Government lending and loan guarantees, Government studies and investigations, Government trust funds, Gulf of Mexico, Hazardous wastes and toxic substances, Income tax credits, Income tax deductions, Infectious and parasitic diseases, Interest, dividends, interest rates, Marine and coastal resources, fisheries, Marine pollution, Military procurement, research, weapons development, Mining, Montana, Motor fuels, Multilateral development programs, Navigation, waterways, harbors, Oil and gas, Pipelines, Pollution liability, Public contracts and procurement, Public participation and lobbying, Railroads, Research administration and funding, Research and development, Rural conditions and development, Sales and excise taxes, Securities, Solid waste and recycling, Strategic materials and reserves, Tax administration and collection, taxpayers, Taxation of foreign income, Transportation programs funding, Worker safety and health, Wyoming","dateModified":"2025-06-04T00:00:00.000Z","url":"https://legisdaily.com/bill/USA-116-S-4887"}

Bernard Sanders

Finance Committee

Bernard Sanders

Finance Committee