Democrats to Vote on Restoring Oil Import Tax

Colin Fredericson
By Colin Fredericson
August 3, 2022US News

Another bill making the rounds is the Schumer–Manchin spending bill, dubbed the Inflation Reduction Act.

Senate Democrats could vote on it as early as this week. It includes a new corporate minimum tax in the bill, as well as a lesser-known item—a tax on oil imports. These types of taxes usually carry over to the consumer and raise gas prices.

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