{"database": "press", "table": "releases", "rows": [["https://www.schiff.senate.gov/news/press-releases/news-as-gas-and-diesel-prices-spike-sen-schiff-introduces-legislation-to-levy-an-excess-profits-tax-on-big-oil-companies-to-discourage-price-gouging/", "NEWS: As Gas and Diesel Prices Spike, Sen. Schiff Introduces Legislation to Levy an Excess Profits Tax on Big Oil Companies to Discourage Price Gouging", "2026-09-24", "2026", "2026-09", "Democrat", "Senate", "CA", "Adam B. Schiff", "S001150", "www.schiff.senate.gov", "schiff", "https://www.schiff.senate.gov/newsroom/press-releases/", "scraper", "Los Angeles, CA \u2013 Today, U.S. Senator Adam Schiff (D-Calif.) introduced legislation to levy an excess profits tax on big oil companies to discourage price gouging and ensure oil companies aren\u2019t profiting off of prolonged war and oil market instability. Schiff\u2019s legislation comes as Americans are facing sky-high prices at the gas pump and Big Oil companies are projected to rake in $96 billion in profits in 2026, $13.5 billion more than last year.\n\n\u201cAfter half a year of war, it\u2019s clear who has benefited from rising gas prices: Big Oil companies. While American families struggle to fill their tanks, and farmers can\u2019t afford diesel fuel, oil and gas companies are realizing massive profits. We need legislation to stop these companies from the price gouging that only adds to the pain at the pump. Big Oil must pay their fair share,\u201d said Senator Schiff.\n\nThe Oil Company Windfall Profits Tax Act would:\n\nImpose a permanent excess profits tax on big oil companies; and\n\nDirect all revenues raised by the excess profits tax to the Highway Trust Fund, Mass Transit Account, and Leaking Underground Storage Tank Trust Fund, consistent with gas tax ratios\n\nAs President Donald Trump\u2019s war with Iran has entered its seventh month, gas per gallon and utility costs have reached record highs \u2013 increasing to nearly double the amount before the war. In California, gas prices have reached over six dollars.\n\nSchiff\u2019s legislation comes at a time when even President Trump has called out oil companies \u2013 saying this past summer that Americans are being \u201cgouged.\u201d\n\nBackground: In July, Schiff demanded the Department of Justice (DOJ) launch a federal investigation into potential price gouging by Big Oil companies and publicly report its findings to Congress.\n\nHe has previously championed a windfall profits tax on oil companies as a way of shifting the cost burden of gas prices off of American families, who have been spending at least $1.00 a gallon more compared to last year thanks to Trump\u2019s war in Iran.\n\nThis Summer, outside of a gas station with the highest gas prices in Los Angeles, Schiff held a press conference announcing actions to hold big oil accountable for price gouging consumers at ahead of the Fourth of July holiday.\n\nThe full text of the legislation is available here.\n\n###", 1, "2026-09-25T10:04:52Z", "2026-09-25T10:05:46Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.schiff.senate.gov/news/press-releases/news-as-gas-and-diesel-prices-spike-sen-schiff-introduces-legislation-to-levy-an-excess-profits-tax-on-big-oil-companies-to-discourage-price-gouging/"], "units": {}, "query_ms": 1.264756079763174, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}