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Dems propose 'Reasonable Profits Board'

Posted By -NO AUTHOR- On 01/20/2012 @ 7:08 pm In Front Page,Money,U.S. | No Comments

(THE HILL) — Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a “Reasonable Profits Board” to control gas profits.

The Democrats, worried about higher gas prices, want to set up a board that would apply a “windfall profit tax” as high as 100 percent on the sale of oil and gas, according to their legislation. The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.


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