Huffpost Business

Featuring fresh takes and real-time analysis from HuffPost's signature lineup of contributors

Chris Gunn Headshot

ASBL States, "Obama Drops Windfall Profits Tax for Oil and Gas Industry"

Posted: Updated:

The American Small Business League (ASBL) released the following video via YouTube this morning. In it the ASBL's Director of Government Affairs Kevin Baron reads the ASBL's recent press release regarding the Obama-Biden Transition Team's decision to drop its campaign promise to institute a windfall profits tax on the oil and gas industry.

The ASBL's Press release stated,

"President-elect Barack Obama has removed any reference of his promise to implement a windfall profits tax on the oil and gas industry from the Obama-Biden Transition Team website,

During the course of the 2008 presidential election, the Obama campaign called for a windfall profits tax on the oil industry as a means of subsidizing a $1,000 "emergency" rebate for consumers struggling with surging gas prices. However, which houses the Obama-Biden transition agenda, was recently cleansed of any mention of such a tax. "

Click here to view the press release.