End Oil and Gas Tax Subsidies Act of 2025

This bill removes or reduces various tax benefits that oil and gas companies currently receive. It eliminates tax credits for certain types of oil production, removes tax deductions for drilling costs and other expenses, and stops companies from using a favorable accounting method. The bill also makes companies take longer to write off geological survey costs and prevents oil-related income from qualifying for a business tax deduction. Additionally, it changes how foreign taxes paid by oil companies are treated and expands the definition of crude oil for tax purposes to include oil from tar sands and oil shale.

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