Clarification on the Misunderstood 'Windfall Profits Tax' and Proposed Alternative1979-07-19unknownhttp://rightsstatements.org/vocab/NKC/1.0/enghttp://congressarchives.org/record/CAC_CC_109_4_22_23_0019The document discusses a proposed tax on oil called the windfall profits tax, which is actually an excise tax on the difference between controlled and decontrolled oil prices. The author explains their efforts to create a substitute proposal that would make the tax less punitive and provide incentives for domestic oil production. The substitute proposal passed the House of Representatives and is now in the Senate for further improvements.