Washington, D.C.: In response to the introduction of the Big Oil Wind Profits Tax Act, led by Senator Whitehouse and Rep. Khanna, the League of Conservation Voters issued the following statement from Senior Federal Advocacy Campaigns Director, Leah Donahey:
“Let’s be crystal clear that when Trump said ‘when oil prices go up, we make a lot of money’, he was talking about billionaire Big Oil executives while ‘we the people’ are stuck paying higher costs. The Big Oil Wind Profits Tax Act led by Senator Whitehouse and Representative Khanna would make sure that when oil executives are raking in big profits, as they are right now, they are returned to the American consumers who are feeling the pain of Trump’s broken energy promises every day. A recent analysis estimates the oil industry could rake in over $60 billion in additional profits this year, which would all be paid by consumers struggling with higher energy costs. Congress should pass this bill as soon as possible to make sure they are putting people over oil CEO profits.”
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