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H.R. 609: End Big Oil Tax Subsidies Act of 2013

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H.R. 609: End Big Oil Tax Subsidies Act of 2013

113th Congress · introduced 2013-02-12 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2013-02-12 · official record
  2. Who proposed it: Rep. Blumenauer, Earl [D-OR-3] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

End Big Oil Tax Subsidies Act of 2013

Plain summary

End Big Oil Tax Subsidies Act of 2013 - Amends the Internal Revenue Code to require seven-year amortization of the geological and geophysical expenditures of covered large oil companies. Defines "covered large oil company" as a taxpayer which is a major integrated oil company or which has gross receipts in excess of $50 million in a taxable year. Denies certain tax benefits to any taxpayer that is not a small, independent oil and gas company, including: (1) the tax credits for producing oil and gas from marginal wells and for enhanced oil recovery, (2) expensing of intangible drilling and development costs in the case of gas wells and geothermal wells, (3) percentage depletion, (4) the tax deduction for qualified tertiary injectant expenses, (5) the exemption from limitations on passive activity losses, and (6) the tax deduction for income attributable to domestic production activities. Prohibits the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies. Limits or denies the foreign tax credit and tax deferrals for amounts paid or accrued by a dual capacity taxpayer to a foreign country or U.S. possession for any period with respect to combined foreign oil and gas income. Defines "dual capacity taxpayer" as a person who is subject to a levy of a foreign country or U.S. possession and receives (or will receive) directly or indirectly a specific economic benefit from such county or possession..

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

End Big Oil Tax Subsidies Act of 2013

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Blumenauer, Earl [D-OR-3] · 41 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Edward J. Markey (D-MA), Janice D. Schakowsky (D-IL), Chellie Pingree (D-ME), Eleanor Holmes Norton (D-DC), Betty McCollum (D-MN), Jerrold Nadler (D-NY), Rosa L. DeLauro (D-CT), Mike Quigley (D-IL), Chris Van Hollen (D-MD), James P. McGovern (D-MA), Peter Welch (D-VT), Gary C. Peters (D-MI), Zoe Lofgren (D-CA), Jared Huffman (D-CA), William R. Keating (D-MA), Joe Courtney (D-CT), Suzanne Bonamici (D-OR)

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)
Exemption
A rule that removes certain people, property or activities from a tax or requirement.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong113-hr609 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113