Coverage dated February 6, 2023 to February 7, 2023
Biden Wants To Quadruple The Tax On Big Oil’s Stock Buybacks
Headline from Oil Price
In this year’s State of the Union address, Biden proposed quadrupling the tax for share repurchases in order to force oil companies to invest in production
Oil Price's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
With buybacks from Exxon to Chevron to Meta booming, President Biden is facing reality: the 1% tax Democrats passed isn’t working. But he probably knew that.
In this year’s State of the Union address, Biden proposed quadrupling the tax for share repurchases in order to force oil companies to invest in production
President Joe Biden plans to call for quadrupling of the one percent surcharge on stock buybacks during his State of the Union address on Tuesday night.
A federal tax on corporate stock buybacks has been in effect for only a month, but President Biden is already asking Congress to quadruple it in a sign the surcharge has done little to deter the practice.
Buybacks divert capital from job creation and load up corporations with debt—an orgy of self-dealing by corporate chiefs that the GOP hasn’t lifted a finger to stop.
President Joe Biden criticized Big Oil companies for using record profits to pay for stock buybacks, calling for the tax on such buybacks to be quadrupled.
Identical headlines usually mean shared wire copy. They are counted as separate articles but are not independent confirmation.
Biden Wants To Quadruple The Tax On Big Oil’s Stock Buybacks | Since Then
