You’ve probably heard a lot about why gas prices are skyrocketing right now – but not all of the information out there is true. While economists try to point fingers at a variety of factors, there’s one clear cause that’s going unrecognized: corporate greed.

The truth is, oil and gas companies are price gouging – and President Biden just explained it all in a simple tweet: He said that crude oil prices are dropping, but oil companies are still keeping prices higher at the pump, meaning that they’re “pad[ding] their profits at the expense of hardworking Americans.”

Sen. Whitehouse and Rep. Khanna proposed a bill to stop oil and gas companies from price gouging through enacting a windfall profits tax on oil companies. By taxing the profits of oil companies and then returning those funds directly to Americans who earn less than $75,000 singly or $150,000 per household, the bill’s sponsors hope to deliver annual checks of $240 to $360 to ordinary Americans.

That doesn’t sound like a lot, but this rebate is a shock absorber for corporate greed. If they make hundreds of millions of dollars in profits while raising prices sky-high, some of those profits will be dedicated to paying Americans a larger rebate check. If they dedicate some of their profits to keeping prices low, consumers won't get a rebate check but they will pay less for gas and other energy costs. It's a win-win that establishes a system of checks and balances on corporate power.

It’s exactly the kind of plan we need to see from Congress right now. If our leaders don’t act somehow to protect the American people from corporate greed, we’re simply relying on the humanity of CEOs to put an end to this crisis. We all know how that will play out.

We need your help to pass Sen. Whitehouse and Rep. Khanna’s bill to help Americans pay for gas while oil companies gouge prices. Will you tell Congress to pass this bill and help everyday Americans make ends meet?

Thanks for your advocacy, 

Team Civic Action