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A bill to temporarily suspend the clean electricity production credit to support the Strategic Petroleum Reserve.
To temporarily suspend the clean electricity production credit to support the Strategic Petroleum Reserve.
Summary
This bill would temporarily suspend the clean electricity production credit under the Internal Revenue Code for fiscal years 2026 and 2027. The credit would not apply to any electricity produced between October 1, 2025, and September 30, 2027. The bill directs the Treasury Secretary to deposit into the Strategic Petroleum Reserve account amounts equal to the increased tax revenues resulting from the suspension of the credit. This effectively redirects the tax credit revenue to petroleum reserve funding during the two-year suspension period.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Cotton, Tom [R-AR] (R-AR)
Money behind the sponsor
Top reported contributors to Tom Cotton’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $80,461
- APOLLO MANAGEMENT $25,600
- APOLLO GLOBAL MANAGEMENT $19,800
- BRODIE GENERATIONAL CAPITAL PARTNERS $13,200
- APOLLO $11,600
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Tom Cotton → · Outside spending →
Actions (2)
- Mar 20, 2026 Read twice and referred to the Committee on Finance. · senate
- Mar 20, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
March 20, 2026
Mr. Cotton introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To temporarily suspend the clean electricity production credit to support the Strategic Petroleum Reserve.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. TEMPORARY SUSPENSION OF CLEAN ELECTRICITY PRODUCTION CREDIT.
(a) In General.—Section 45Y of the Internal Revenue Code of 1986 is amended by adding at the end the following:
“(i) Suspension During Fiscal Years 2026 and 2027.—This section shall not apply with respect to any electricity produced during the period beginning on October 1, 2025, and ending on September 30, 2027.”.
(b) Transfer to SPR Petroleum Account.—The Secretary of the Treasury shall deposit into the SPR Petroleum Account established under section 167(a) of the Energy Policy and Conservation Act (42 U.S.C. 6247(a)) amounts equal to the increase in revenues to the Treasury by reason of the amendment made by subsection (a). <all>
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