Finance
U.S. Senate finance chair: Congress should hike tax on oil firms’ stock buybacks
Jan 26 (Reuters) – U.S. Senate Finance Committee Chair Ron Wyden on Thursday stated Congress should do extra to lift taxes on oil firms’ inventory buybacks after Chevron Corp (CVX.N) introduced it might triple its price range for share buybacks to $75 billion.
“There have been lots of people who needed to in the reduction of on issues like meals, medication, and journey with household when oil firms jacked up costs on the pump whereas pulling in file earnings,” the Oregon Democrat stated in a press release, including he had proposed laws to lift the tax on oil agency buybacks to 25%.
Reporting By Paul Grant; Enhancing by Tim Ahmann
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