Stop Profiting Off Putin’s War Act
Latest action. Referred to the House Committee on Ways and Means.
Stop Profiting Off Putin's War Act
This bill imposes a 50% excise tax through 2023 on the adjusted taxable income of certain major integrated oil companies during calendar quarters when the national average price of unleaded gasoline is equal to or greater than the national average price of unleaded gasoline on February 24, 2022, the day of the Russian invasion of Ukraine. The rate of such tax is increased to 75% for companies that raise prices in response to this new tax.
The bill requires tax revenues to be paid as rebates to eligible individuals and establishes the Gas Profit Recovery Fund to finance the payment of such rebates.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on March 16, 2022. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on March 16, 2022: Referred to the House Committee on Ways and Means.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 117th Congress (2021-22), 362 of the 15,242 bills and joint resolutions introduced became law, about 2.4 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
Sean Maloney (D-NY) introduced it on March 16, 2022. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on March 16, 2022, 1639 days ago. The most recent recorded action was 1639 days ago, on March 16, 2022.
Measures do not carry over. Anything the 117th Congress has not finished by January 3, 2023 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers