PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Jul 29, 2015
End Oil and Gas Tax Subsidies Act of 2015
This bill amends the Internal Revenue Code to:
increase to seven years the amortization period for geological and geophysical expenditures;
repeal the tax credits for producing oil and gas from marginal wells and for enhanced oil recovery;
repeal the tax deduction for the intangible drilling and development costs of oil and gas wells;
repeal percentage depletion for oil and gas wells;
repeal the tax deduction for tertiary injectant expenses;
repeal the passive loss exception for working interests in oil and gas property;
deny the tax deduction for income attributable to domestic production activities for oil and gas activities;
prohibit the use of the last-in, first-out (LIFO) accounting method by major integrated oil companies; and
limit the foreign tax credit for dual capacity taxpayers (i.e., taxpayers who are subject to a levy of a foreign country or U.S. possession and receive specific economic benefits from such country or possession).
People & committees
Rep. Blumenauer, Earl [D-OR-3] · D–OR
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E1181)
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 12, 2025. Consult Congress.gov for the current record.
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