Volcker urges US tax on oil as prices drop

Federal Reserve Board chairman Paul Volcker urged Congress to raise taxes on oil to offset a sharp drop in world oil prices. He advocated speeding up President Reagan's $5-a-barrel tax on domestic and imported oil proposed for October 1985. This would raise government revenues and keep the federal budget deficit from expanding, he said.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK