Latest Big Oil Windfall Profits Tax Act News & Updates

Washington, March 18 (IANS) US lawmakers moved to tax major oil companies as fuel prices surged sharply following the Iran war, with Democrats accusing energy firms of profiting while American consumers face rising costs.US Senator Sheldon Whitehouse and Indian American Congressman Ro Khanna reintroduced the Big Oil Windfall Profits Tax Act, pointing to a steep rise in petrol prices in recent weeks.“The price of a gallon of gas is up 80 cents just weeks after the onset of war in Iran, and the …