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End Polluter Welfare for Enhanced Oil Recovery Act of 2026
To amend the Internal Revenue Code of 1986 to provide for an end date for the credit for certain qualified carbon oxide, and for other purposes.
Summary
This bill amends the Internal Revenue Code to eliminate the federal tax credit for enhanced oil recovery, which subsidized the injection of carbon dioxide into oil fields to increase oil production. For new facilities constructed after enactment of the bill, the legislation prohibits the use of carbon dioxide as a tertiary injectant in enhanced oil recovery operations. The bill removes Section 43 of the Internal Revenue Code, which provided the tax credit for enhanced oil recovery, and makes conforming changes to other tax provisions that referenced this credit. These changes apply to taxable years beginning after the date of enactment.
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. Merkley, Jeff [D-OR] (D-OR)
5 cosponsors
Actions (2)
- Mar 26, 2026 Read twice and referred to the Committee on Finance. · senate
- Mar 26, 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 26, 2026
Mr. Merkley (for himself, Mr. Van Hollen, Mr. Markey, Mr. Booker, Mr. Sanders, and Ms. Warren) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to provide for an end date for the credit for certain qualified carbon oxide, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “End Polluter Welfare for Enhanced Oil Recovery Act of 2026”.
SEC. 2. ELIMINATION OF USE OF CARBON OXIDE AS TERTIARY INJECTANT.
(a) In General.—Section 45Q(f) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:
“(11) Elimination of use of carbon oxide as tertiary injectant.—In the case of any qualified facility the construction of which begins after the date of the enactment of the End Polluter Welfare for Enhanced Oil Recovery Act of 2026, subsection (a)(3)(B)(ii) shall not apply.”.
(b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
SEC. 3. ENHANCED OIL RECOVERY CREDIT.
(a) In General.—Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by striking section 43.
(b) Conforming Amendments.—
(1) Section 38(b) of such Code is amended by striking paragraph (6).
(2) Section 45I(b)(2)(B) of such Code is amended by inserting “(as in effect on the day before the date of the enactment of the End Polluter Welfare for Enhanced Oil Recovery Act of 2026)” after “section 43(c)(3)(B)”.
(3) Section 45K(b)(5)(A) of such Code is amended by inserting “(as in effect on the day before the date of the enactment of the End Polluter Welfare for Enhanced Oil Recovery Act of 2026)” after “section 43”.
(4) Section 45Q of such Code is amended—
(A) by striking “section 43(b)(3)(B)” each place it appears and inserting “section 43(b)(3)(B) (as in effect on the day before the date of the enactment of the End Polluter Welfare for Enhanced Oil Recovery Act of 2026)”, and
(B) in subsection (e)(4), by inserting “(as in effect on the day before the date of the enactment of the End Polluter Welfare for Enhanced Oil Recovery Act of 2026)” after “section 43(c)(2)”.
(5) Section 196(c) of such Code is amended by striking paragraph (5) and by redesignating paragraphs (6) through (14) as paragraphs (5) through (13), respectively.
(6) Section 6501(m) of such Code is amended by striking “43,”.
(7) The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by striking the item relating to section 43.
(c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>
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