US SB4111

Imposes a 50% excise tax on crude oil "windfall profits" calculated as the difference between current quarterly Brent crude prices and the 2025 average price, applying only to large producers/importers exceeding 300,000 barrels per day

Applies to crude oil extracted in the United States or imported for consumption, with the tax effective for oil removed or entered after December 31, 2025

Creates the "Protect Consumers from Gas Price Hikes Fund" to collect all windfall tax revenues and distribute them as quarterly rebates to eligible individual taxpayers

Rebates phase out at 5% of income exceeding $75,000 for individuals, $112,500 for heads of household, and $150,000 for joint filers, with joint filers receiving 150% of the standard rebate amount

Excludes nonresident aliens, dependents, and estates/trusts from rebate eligibility, and provides separate payment mechanisms for U.S. territories with mirror code tax systems