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Climate Politics

Democrats’ Oil Import Tax Would Violate Biden Pledge, Conservative Group Says

Democrats’ plan to reinstate a 27-year-old fee on oil imports represents a violation of a pledge by President Joe Biden not to raise taxes on anyone making less than $400,000 per year, according to the conservative Americans for Tax Reform. 

The proposal to levy a 16.4-cents-per-barrel tax on crude oil and other imported petroleum products is included in the $433 billion tax and climate bill that could see a Senate vote this week. The tax “will be paid by consumers in the form of higher gas and energy costs,” the Washington-based group said in a statement Monday. The group also noted that it’s been only a matter of weeks since gasoline prices were at a record high.