'The President's best course of action is to keep the pressure up on Big Oil by going all in on a windfall profits tax.'
earlier this year. In Congress, 82 Members have endorsed some version of windfall profits tax legislation, with support growing by the day. And the U.S isn't the only country talking about it: a windfall profits tax has already been passed by several European countries, including the United Kingdom, where the policy was implemented by the Conservative government as a way to combat high energy prices.
In his speech on Monday, the President said that he'd pursue a windfall tax if Big Oil didn't start increasing production and investing in America. There's no need to wait. Oil and gas CEOs have been ignoring the need to help the public by lowering prices all year, all while lining their own pockets and giving millions of dollars to Republican politicians who fight any pressure on the fossil fuel industry . Meanwhile, the U.
The President's best course of action is to keep the pressure up on Big Oil by going all in on a windfall profits tax. It is a popular way to hold Big Oil CEOs accountable while getting relief directly to the American public now. As President Biden said,"The American people are going to judge who's standing with them, and who is only looking out for their bottom line.
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