Divisions hamper Democrats’ inflation strategy – By Alexander Bolton (The Hill) / March 18, 2022
Democrats’ efforts to combat inflation are stuck in limbo because of internal divisions over a range of proposals aimed at lowering the cost of gas, health care and child care.
The latest idea that some Democrats are rallying around is a proposed tax on the windfall profits of major oil companies that would raise an estimated $45 billion to be returned to consumers in the form of energy rebates.
Senate Majority Leader Charles Schumer (D-N.Y.) highlighted oil companies’ profits on the Senate floor Thursday and announced that oil and gas company executives will be called to testify about why they are buying back stocks instead of keeping prices lower for average Americans.
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