S. 5350 Introduced Taxation

American Energy Independence and Tax Fairness Act

A bill to amend the Internal Revenue Code of 1986 to include foreign oil and gas extraction income in net CFC tested income, to include income from the extraction of minerals from oil shale and tar sands in the definitions of foreign oil and gas extraction income and foreign oil related income, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed Senate
  4. Passed House
  5. To President
  6. Became law
Sponsor Sen. Heinrich, Martin [D-NM] Introduced August 6, 2026 Cosponsors 0 Latest action August 6, 2026

Summary

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

Congress.gov

Actions

  1. Aug 6, 2026 Read twice and referred to the Committee on Finance.
  2. Aug 6, 2026 Introduced in Senate

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