S. 4588 Introduced Taxation

Taxing Buybacks from Big Oil Windfalls Act

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.

  1. Introduced
  2. Committee
  3. Passed Senate
  4. Passed House
  5. To President
  6. Became law
Sponsor Sen. Wyden, Ron [D-OR] Introduced May 20, 2026 Cosponsors 16 (16 D) Latest action May 20, 2026

Summary

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

Congress.gov

Actions

  1. May 20, 2026 Read twice and referred to the Committee on Finance.
  2. May 20, 2026 Introduced in Senate

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