Biden threatens oil companies with ‘higher tax’ if they don’t increase production ...Middle East

The Hill - News
Biden threatens oil companies with ‘higher tax’ if they don’t increase production
President Biden on Monday warned that oil companies would face a “higher tax” on their excess profits if they don’t reinvest in increasing production to bring down prices at the pump.  “They have a responsibility to act in the interest of their consumers, their community and their country, to invest in America by increasing production and refining capacity,” Biden said of the companies during a speech on Monday afternoon.  “If they don’t, they’re going to pay a higher tax on their excess profits and face other restrictions,” he added in the remarks from the White House just more than a week before the midterm elections.  Biden can’t unilaterally impose a tax on companies; he woul

Hence then, the article about biden threatens oil companies with higher tax if they don t increase production was published today ( ) and is available on The Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Biden threatens oil companies with ‘higher tax’ if they don’t increase production )

Apple Storegoogle play

Last updated :

Also on site :

Most viewed in News