Bill · H.R. 8034· House(119-HR-8034)

Protecting America’s Small Oil and Gas Producers and Rural Jobs Act

Age: 50 years

Kansas

Introduced: 3/20/2026
Last activity: 3/20/2026 — Referred to the House Committee on Ways and Means.
Sponsored by: Tracey Mann
Cosponsors: - 12 - 0

Taxation

Introduced
In Committee

What this bill would do

This bill, known as the "Protecting America's Small Oil and Gas Producers and Rural Jobs Act," aims to amend the Internal Revenue Code of 1986. It specifically targets the modification of certain percentage depletion rules related to oil and gas wells. The legislation adjusts how the applicable percentage is calculated for marginal properties and introduces a Producer Price Index adjustment. Additionally, it removes certain taxable income limitations for these properties. The bill also changes the depletable oil quantity calculation. These changes are intended to take effect for taxable years beginning after December 31, 2026.

Yes· 3 of 7

Does this cut taxes for small businesses?+6
The bill reduces the tax burden on small oil and gas producers by modifying depletion allowances and removing taxable income limitations.
Does this make it easier to run a small business?+6
The bill provides direct tax relief mechanisms specifically targeted at marginal properties, which are typically operated by smaller producers.
Would business owners be better off under this?+6
Business owners in the oil and gas industry benefit from the increased depletion allowances and removal of income limitations.

The opposite

Does this reduce how much oil, gas and coal is produced?-2
The bill incentivizes fossil fuel production by increasing depletion allowances for oil and gas wells.