2025-2026 Regular Session • US Congress Legislature
SB224: Promoting Domestic Energy Production Act
Legislative Summary
A bill to amend the Internal Revenue Code of 1986 to allow intangible drilling and development costs to be taken into account when computing adjusted financial statement income.
Demographic Impact
Overall analysis of equity impact
60% Positive
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Bill History
1/23/2025
Read twice and referred to the Committee on Finance.
Senate
Status Information
Current Status
Introduced(1/23/2025)
Chamber
Senate
Committee
Finance(Senate)
Sponsors
Republican: 17
Primary Sponsor
James Lankford
Republican
Co-Sponsors (16)
John Barrasso
Republican
Steve Daines
Republican
Bill Cassidy
Republican
Tim Scott
Republican
Roger Marshall
Republican
Markwayne Mullin
Republican
Ted Cruz
Republican
Kevin Cramer
Republican
Cynthia Lummis
Republican
Jerry Moran
Republican
Tim Sheehy
Republican
James Risch
Republican
Dan Sullivan
Republican
John Cornyn
Republican
Bernie Moreno
Republican
Mike Lee
Republican