Windfall-profits bill is signed by Carter

President Carter Wednesday signed into law the windfall-profits tax bill, designed to put a tax on the profits oil companies will make from the lifting of price controls on domestic oil. The bill is expected to raise $227 billion over the next 10 years for energy conservation projects and tax cuts. The new tax will be applied retroactively to March.

You've read  of  free articles. Subscribe to continue.
QR Code to Windfall-profits bill is signed by Carter
Read this article in
https://www.csmonitor.com/1980/0403/040327.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe