H.R. 8803 Introduced Taxation

Iran War Oil Crisis Windfall Profits Tax Act

To amend the Internal Revenue Code of 1986 to impose a windfall profits excise tax on crude oil and to rebate the tax collected back to individual taxpayers until the President declares that all hostilities with Iran have ceased, the Strait of Hormuz is fully reopened, and the price of oil drops below $75 per barrel.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Sherman, Brad [D-CA-32] Introduced May 13, 2026 Cosponsors 0 Latest action May 13, 2026

Summary

The Congressional Research Service has not published a summary of this bill yet.

Congress.gov

Actions

  1. May 13, 2026 Referred to the House Committee on Ways and Means.
  2. May 13, 2026 Introduced in House

Congressional and federal records come from official public sources: the House Clerk, the U.S. Senate, GovInfo and the Library of Congress (bill status), the Federal Register, and the congress-legislators project. They are copied on a schedule and may lag the official record by a few hours; the official sources govern. News and coverage counts are drawn from the 4Search index and reflect what the press published, not 4Search's views. Nothing here is an endorsement of any candidate, party or position. Terms of use.