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Senate bill · S. 4588 (119th Congress)

Taxing Buybacks from Big Oil Windfalls Act

Latest action May 20, 2026

U.S. Senate

Sponsor

Ron Wyden

U.S. Senator for Oregon · Democratic

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Summary

Would amend section 4501 of the Internal Revenue Code to apply a higher excise tax rate to stock repurchases by large oil and gas companies.

AI summary. Not an official summary. How we handle summaries

From Congress.gov and official rosters. This record was last updated Jul 30, 2026. About our data

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Where it stands

Assigned to a committee for review.

  1. Introduced
  2. In committee
  3. Up for a vote
  4. Passed one chamber
  5. Passed
  6. Enacted

Committee

Senate Committee on Finance · U.S. Senate

Cosponsors

Amy Klobuchar, Andy Kim and 14 others

Cosponsors listed on Congress.gov, shown A to Z.

  • Democratic16

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Full history

  1. May 20, 2026

    Introduced

    Introduced in U.S. Senate

    U.S. Senate

  2. May 20, 2026

    Referred to committee

    Read twice and referred to the Committee on Finance.

  3. May 20, 2026

    Referred to committee

    Read twice and referred to the Committee on Finance.

  4. May 20, 2026

    Referred to committee

    Read twice and referred to the Committee on Finance.