Additional excise tax on crude oil and imported petroleum products

(a) In general Section 4611(c) of the Internal Revenue Code of 1986 is amended— (1) in paragraph (1), by striking and at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting, and, and by adding at the end the following new subparagraph: (C) the National Resilience and Recovery Fund financing rate., (2) in paragraph (2), by striking and at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting, and, and by adding at the end the following new subparagraph: (C) the National Resilience and Recovery Fund financing rate is 10 cents a barrel., and (3) in paragraph (3), by striking the amount in paragraph (2)(A) and inserting the amounts in subparagraphs (A) and (C) of paragraph (2). (b) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2024.