Bharat Ramamurthy, deputy director of the National Economic Council, said the administration is studying proposals from the U.S. Senate and House of Representatives that could raise taxes on energy companies. The funds the government would receive would be used to subsidize citizens.
The Biden administration has criticized oil companies for their lack of initiative in investing their revenues in production development. The super-income taxes would allow the authorities themselves to engage in a more equitable redistribution of oil companies' funds in the economy.
