windfall tax

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windfall tax

a tax levied on an organization considered to have made excessive profits, esp a privatized utility company that has exploited a monopoly
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Both politically and financially the windfall profits tax was an indispensable component of [President Carter's] energy program," explained Yager (1981, p.
was not eligible to claim a foreign tax credit for its payment of the windfall profits tax because the tax did not meet the gross receipts requirement of Regs.
Lawmaker Sanjaasurengiin Oyun told AFP on the sidelines of the conference that scrapping the windfall profits tax would open doors for Ulan Bator.
Gerard also said that while he is optimistic about working with the new Congress, it is too soon to know whether API will be able to convince lawmakers to oppose a windfall profits tax on the oil industry.
Obama proposes to enact a windfall profits tax on energy profits that would provide a $1,000 rebate to American families.
And that's slap a windfall profits tax on the oil, gas and electricity companies' obscene levels of profit, when millions are worried about how they are going to keep themselves warm.
The Democratic proposal would have imposed a windfall profits tax of up to 25 percent on "unreasonable" earnings by the nation's five biggest oil companies.
As happened in when the first windfall profits tax was passed, these taxes will reduce exploration, limit supply, and increase costs by collapsing the market and driving independent oil producers--the very companies that do the most to produce domestically--out of business.
McCain advocates a federal gas tax holiday while Senators Clinton and Obama want to stick it to big oil with a windfall profits tax, forgetting that this contributed to long gas lines in 1970s.
She said she would pay for the summer gas holiday with a $10 million windfall profits tax on the big oil companies and has a tandem proposal to also close $7.
Instead of calling for a windfall profits tax, with the money going to an investment fund for alternative energy development, we hear, "End tax breaks for Big Oil and create tax incentives for the development" of such energy.
She added that she supports a windfall profits tax on oil company's excessively high profits, which would put that money back into the Highway Trust Fund 'so that we don't lose out on repair, construction, and rebuilding.