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Democrats revive plan to lower US gas prices via “Big Oil” tax

The plan would tax Big Oil windfall profits and send quarterly rebates to consumers as gas prices average $4.51 a gallon, supporters said.

Summary by Newsweek
Democrats are reviving a windfall tax on Big Oil as gas prices stay above $4.50 during the Iran conflict.

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Newsweek broke the news in United States on Sunday, May 17, 2026.
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