The H.R. 383 bill, titled the "End Oil and Gas Tax Subsidies Act of 2025," proposes changes to the Internal Revenue Code of 1986 to eliminate various tax subsidies for oil companies. This includes ending amortization of geological expenses, repealing tax credits and...
Simple Explanation
The H.R. 383 bill wants to stop giving money help and special tax breaks to big oil companies, which means these companies might have to pay more taxes. It also changes some rules about how oil companies do their accounting and handle taxes when they work in other countries.