Ramamurti: Biden Hasn't Ruled Out A Tax On Excessive Gas Profits

White House Deputy Director of the National Economic Council Bharat Ramamurti has told reporters that President Biden hasn't ruled out a windfall tax on energy companies.

• Ramamurti also repeated the White House line that inflation is a global problem and claimed that oil refiners are responsible for high prices.
• Today reports from the suggested White House is also looking at a gas tax holiday. Biden has generally been reluctant to pursue legislation via executive order and it is hard to see any substantial tax legislation, either a tax holiday or windfall tax, passing Congress.
• Commerce Secretary Gina Raimondo said last week: "The president is asking for Congress and others for potential ideas. But the reality is that there isn't very much more to be done. Some people have talked about a gas tax holiday but of course that is something that Congress would have to move on. The president has already taken very bold moves by tapping 1m barrels a day from the strategic petroleum reserve."