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S.940 Close Big Oil Tax Loopholes Act, 112th Congress

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Official Bill Info

  • Latest Action: May 17, 2011 Motion to proceed to consideration of measure by Senator Reid made in Senate.

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    I know the most recent action for this bill is as follows: "Motion to proceed to consideration of measure by Senator Reid made in Senate." on May 17, 2011
  • This bill's most-recent vote occurred on May 17, 2011, with a roll call of 52 ayes, 48 nays, and 0 not voting.

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    This bill's most-recent vote occurred on May 17, 2011, with a roll call of 52 ayes, 48 nays, and 0 not voting.

Bill Statistics on OpenCongress

  • 90% of users support S.940

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    90% of users on OpenCongress.org, a free, non-partisan resource, support S.940.
  • S.940 has been viewed 15,239 times

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    S.940 has been viewed 15,239 times on OpenCongress.org, a free, non-partisan resource.

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    OpenCongress Bill Summary

    • Repeals five tax subsidies for U.S. oil companies and closes a loophole that oil companies use to disguise foreign royalty payments as taxes and reduce their domestic tax bill. All savings under the bill would be applied to reducing federal budget deficits.

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      Here's a summary from OpenCongress.org: Repeals five tax subsidies for U.S. oil companies and closes a loophole that oil companies use to disguise foreign royalty payments as taxes and reduce their domestic tax bill. All savings under the bill would be applied to reducing federal budget deficits.

    Supporting Organizations

    • Conservation Law Foundation

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      I know that the organization Conservation Law Foundation supports S.940

    Opposing Organizations

    • Americans for Tax Reform

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      I know that the organization Americans for Tax Reform opposes S.940
    • Americans For Prosperity

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      I know that the organization Americans For Prosperity opposes S.940
    • U. S. Chamber of Commerce

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      I know that the organization U. S. Chamber of Commerce opposes S.940

    Most-commented sections of the bill text

    Highest Rated User Comments

    • On May 27, 2011, by TadsDad - I'm for closing all loop holes, and going to a flat tax. these clown are just going to raise gas prices either way.

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      As noted by TadsDad, a user on OpenCongress.org, on May 27, 2011, "I'm for closing all loop holes, and going to a flat tax. these clown are just going to raise gas prices either way."
    • On January 15, 2012, by Aleksey - European style of government ... 200 years ago ... you think the word "progress" doesn't apply to America. Opposing this bill for this reason is contributing to the problem. Loopholes have to start to be closing somewhere. If there are holes in a sinking ship, you expect them to be sealed all at once? I hope you're 15 or something, otherwise this way of thinking of yours will land us no where.

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      As noted by Aleksey, a user on OpenCongress.org, on January 15, 2012, "European style of government ... 200 years ago ... you think the word "progress" doesn't apply to America. Opposing this bill for this reason is contributing to the problem. Loopholes have to start to be closing somewhere. If there are holes in a sinking ship, you expect them to be sealed all at once? I hope you're 15 or something, otherwise this way of thinking of yours will land us no where. "
    • On May 23, 2011, by moionfire - I support this bill fully. Shame on the the three democrats that opposed this.

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      As noted by moionfire, a user on OpenCongress.org, on May 23, 2011, "I support this bill fully. Shame on the the three democrats that opposed this."

    Highly Rated Blog Articles

    • Controversy Over Oil Company Tax Breaks - July 28, 2012 by admin - Various bills have been proposed in Congress to try to address the seemingly unfair advantages that oil companies enjoy through tax breaks. The most recent is the S. 940 bill proposed by Senator Charles Schumer that seeks ...

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      As noted by admin on July 28, 2012, "Various bills have been proposed in Congress to try to address the seemingly unfair advantages that oil companies enjoy through tax breaks. The most recent is the S. 940 bill proposed by Senator Charles Schumer that seeks ..." (/url?q=http://independenttax.com/controversy-over-oil-company-tax-breaks&sa=U&ei=b-0WUKySCoP48wTH8YG4Bw&ved=0CD8QmAEwCA&usg=AFQjCNHjh_vluhpSrKbYuYGNme6sm1VgqA)
    • CAN'T MAKE IT UP: REPUBLICAN SCOTT BROWN CLAIMS HE ... - June 21, 2012 by http://dscc.org/?s=make+money+online&q=http://www.etoro.com/B503_A25509_TClick.aspx - On May 17, 2011, Brown voted against a motion to proceed on S. 940 (Close Big Oil Tax Loopholes Act). According to the Cleveland Plain Dealer, the Close Big Oil Tax Loopholes Act “sought to repeal about $21 billion worth ...

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      As noted by http://dscc.org/?s=make+money+online&q=http://www.etoro.com/B503_A25509_TClick.aspx on June 21, 2012, "On May 17, 2011, Brown voted against a motion to proceed on S. 940 (Close Big Oil Tax Loopholes Act). According to the Cleveland Plain Dealer, the Close Big Oil Tax Loopholes Act “sought to repeal about $21 billion worth ..." (/url?q=http://www.dscc.org/news%3Ftype%3Dpress_release%26press_release_KEY%3D2201&sa=U&ei=OTjmT9TiCabc2QWVnYHaCQ&ved=0CDcQmAEwBg&usg=AFQjCNHRHfR5QyE2_bWKPvi8r7J73LgYnw)
    • CAN'T MAKE IT UP: REPUBLICAN SCOTT BROWN CLAIMS HE ... - June 21, 2012 by http://dscc.org/?s=make+money+online&q=http://www.etoro.com/B503_A25509_TClick.aspx - On May 17, 2011, Brown voted against a motion to proceed on S. 940 (Close Big Oil Tax Loopholes Act). According to the Cleveland Plain Dealer, the Close Big Oil Tax Loopholes Act “sought to repeal about $21 billion worth ...

      Clicking this will add the following text:

      As noted by http://dscc.org/?s=make+money+online&q=http://www.etoro.com/B503_A25509_TClick.aspx on June 21, 2012, "On May 17, 2011, Brown voted against a motion to proceed on S. 940 (Close Big Oil Tax Loopholes Act). According to the Cleveland Plain Dealer, the Close Big Oil Tax Loopholes Act “sought to repeal about $21 billion worth ..." (/url?q=http://www.dscc.org/news%3Ftype%3Dpress_release%26press_release_KEY%3D2201&sa=U&ei=JNDkT5D8BoXs2QWSxdTaCQ&ved=0CDMQmAEwBQ&usg=AFQjCNFMUh1Pw1aBlMlkE6tOhHMX15jYVQ)

    Highly Rated News Articles

    • Warren rips Brown's record - July 18, 2012 by Abington Mariner - The latest from the Warren camp: Republican Scott Brown has tried a variety of methods to hide his history of voting against working class families. Today, he chose to parrot Mitt Romney’s attacks on President Barack Obama. But his rhetoric ...

      Clicking this will add the following text:

      As noted by Abington Mariner on July 18, 2012, "The latest from the Warren camp: Republican Scott Brown has tried a variety of methods to hide his history of voting against working class families. Today, he chose to parrot Mitt Romney’s attacks on President Barack Obama. But his rhetoric ..." (http://www.wickedlocal.com/waltham/senate-2012/x328564729/Warren-rips-Browns-record)
    • Indian River County Community Calendar, updated July 7 - July 07, 2012 by Jupiter Courier - 11 a.m.-11 p.m. July 19. Chili's, 940 U.S. 1, Vero Beach, 772-257-0442; vbcba.org. Blood Pressure Screenings: 11 a.m.-1 p.m. July 20. VNA Hidden Treasures, 656 21st St., Vero Beach. Also: 11 a.m.-1 p.m. VNA Hidden Treasures Sebastian ...

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      As noted by Jupiter Courier on July 07, 2012, "11 a.m.-11 p.m. July 19. Chili's, 940 U.S. 1, Vero Beach, 772-257-0442; vbcba.org. Blood Pressure Screenings: 11 a.m.-1 p.m. July 20. VNA Hidden Treasures, 656 21st St., Vero Beach. Also: 11 a.m.-1 p.m. VNA Hidden Treasures Sebastian ..." (http://www.tcpalm.com/news/2012/jul/07/indian-river-county-community-calendar-updated-6/?partner=RSS)
    • Indian River County Community Calendar, updated June 12 - June 11, 2012 by Jupiter Courier - 11 a.m.-11 p.m. June 21. Chili's, 940 U.S. 1, Vero Beach. 772-257-0442; vbcba.org. Golf Tournament: Remote Island Ministries Gold Tournament. 8 a.m., June 23. Sandridge Golf Club, 5300 73rd St., Vero Beach. $60. Register: 772-643-3976 ...

      Clicking this will add the following text:

      As noted by Jupiter Courier on June 11, 2012, "11 a.m.-11 p.m. June 21. Chili's, 940 U.S. 1, Vero Beach. 772-257-0442; vbcba.org. Golf Tournament: Remote Island Ministries Gold Tournament. 8 a.m., June 23. Sandridge Golf Club, 5300 73rd St., Vero Beach. $60. Register: 772-643-3976 ..." (http://www.tcpalm.com/news/2012/jun/11/indian-river-county-community-calendar-updated/)
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