In the wake of record profit reports by several large U.S. oil companies, many lawmakers have renewed calls for a “windfall profits” taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. on the industry. The following audio commentary was recorded by Tax Foundation President Scott A. Hodge, exploring the economics of windfall profits taxes.
To listen, please click here.
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