FreedomWorks Statement on Biden’s Proposed Windfall Tax on Energy Producers
WASHINGTON, D.C. — In response to President Biden’s request to Congress to approve a windfall tax on energy companies, Adam Brandon, FreedomWorks President, commented:
“President Biden’s economic advisors should explain to him the law of supply and demand. Biden has done everything he can to destroy the American oil and gas industry, from shutting down the Keystone Pipeline on his first day in office to refusing to grant any new permits for oil and gas drilling–all the while shaming oil companies from producing oil. Can it really be a surprise that the resulting shortage has caused gas prices to rise, which is the purpose of Biden’s war on energy? Or is the administration so clueless that they DIDN’T think reducing supply would lead to rising prices? And now Biden has the temerity to propose a windfall profits tax–on profits that his Administration’s policies created. And the tax will be passed on to consumers, further exacerbating their economic difficulties. If Biden’s policies weren’t so harmful to Americans, whose food, gas, and utility bills have skyrocketed, this would be laughable.”
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