Biden to call for so-called ‘windfall’ tax on oil and gas companies as he escalates rhetoric amid record profits

President Joe Biden is planning to escalate weeks of sharp warnings to energy producers on Monday by floating a so-called “windfall” tax on their corporate profits, calling out major gas companies for racking up gains as Americans face continued high prices at the gas pump in the final stretch of the midterm campaign season.

​President Joe Biden is planning to escalate weeks of sharp warnings to energy producers on Monday by floating a so-called “windfall” tax on their corporate profits, calling out major gas companies for racking up gains as Americans face continued high prices at the gas pump in the final stretch of the midterm campaign season.