.RepRoKhanna, CaucusOnClimate member, sponsored the Big Oil Windfall Profits Tax Act to impose large taxes on oil giants. At the same time, Khanna's wife has traded between $378,000 and $1.3 million in shares of top oil and gas companies.
A Democratic congressman trying to tax"Big Oil" has disclosed up to $1 million worth in major oil and gas stock trades through the years, records show.
Senate Democrats, led by Sheldon Whitehouse of Rhode Island, put forth a similar bill in February, which would make large oil companies pay a pre-barrel quarterly tax equal to 50%"of the difference between the current price of a barrel of oil and the pre-pandemic average price per barrel between 2015 and 2019," a press release shows. One co-sponsor of the measure, Sen.
Between June 2020 and September 2021, Khanna disclosed that his wife bought up to $125,000 worth of Exxon shares and sold up to $160,000 worth. His wife also bought up to $95,000 worth of Chevron shares and sold up to $275,000 worth between April 2020 and August 2021, disclosures show. How is there a “war on energy" when Exxon, Chevron, & BP are making over 200% higher profits this year? Even worse, Big Oil is making money off of Americans & paying windfall profits taxes to Europe. Let's pass my Big Oil windfall profits tax bill with @SenWhitehouse. pic.twitter.com/lDWFLX9Voo
Still, Kish noted that Khanna's trades are the sort of thing"that ought to raise people's eyebrows." The congressman has notably called global warming an"existential threat that requires a proactive approach from both parties."
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