Windfall

From today's In The Loop column of the Washington Post.

Senate Budget Committee chairman and recent Powerball winner Judd Gregg (R-N.H.) wants to tack a windfall profits tax on oil companies to provide additional funding for the Low Income Home Energy Assistance Program (LIHEAP) in the Senate budget reconciliation debate.

Gregg says that it's "infuriating" that energy companies are "reporting record-breaking profits," some of them up to $10 billion in one quarter, because of high gasoline and heating oil prices and it's time to reimpose the tax.

Unclear whether his $853,000 Powerball winnings, obviously something of a windfall, would be subject to this tax.

Also see the opinion article on this subject by ADA National Director Amy F. Isaacs.