Energy & Environment — Dems eye increased oil profit tax after record quarter
Democrats are once again eyeing oil company profits after the firms recently posted record profits. Meanwhile, scientists are linking a type of PFAS to liver cancer. This is Overnight Energy & Environment, your source for the latest news focused on energy, the environment and beyond. For The Hill, we’re Rachel Frazin and Zack Budryk. Someone forward you this newsletter?&
Read MoreNew Jersey issues first drought watch since 2016
Officials in New Jersey announced a statewide drought watch on Tuesday for the the first time in six years — urging residents to conserve water amid persistent dry conditions. The issuance of a drought watch is the first step in the Garden State’s three-stage drought advisory system, according to the New Jersey Department of Environmental Protection (DEP). The watch serves to “sow public awareness” about the stress on state water supplies and encourage voluntary conservation measures, per the DEP. If conditions in the state do not improve, the declaration of a droug
Read MoreHillicon Valley — US warns against North Korea cyber capabilities
U.S. officials warned that North Korea is increasingly using crypto heists to fund nuclear weapons programs. Meanwhile, Facebook’s parent company Meta is changing course with new product features and a focus on the metaverse as the tech giant vies to maintain its top spot in the industry amid increasing competition and regulatory scrutiny. This is Hillicon Valley, detailing all you need to know about tech and cyber news from Capitol Hill to Silicon Valley. Send tips to The Hill’s
Read MoreHow to watch the NY-12 Democratic Primary Debate on PIX11
NEW YORK (PIX11) — In just a few weeks, New York Republicans and Democrats will cast their vote for who they want in the House of Representatives during the state’s primary election. One of the most closely watched primary races is New York’s 12th Congressional District. Maps were redrawn using 2020 Census data, pitting two of New York’s leading lawmakers against each other in the Democratic primary.
Read MoreWyden introduces bill to double tax on excess oil profits
Legislation introduced by Sen. Ron Wyden (D-Ore.) would double excess-profit taxes on oil companies making over $1 billion a year. The bill, the Taxing Big Oil Profits Act, would impose a 21 percent tax on the excess profits of oil and gas companies making more than $1 billion annually. Excess profits are determined by current profits minus a normal 10 percent return on investment. “Our broken tax code is working for Big Oil, not American families. While Americans pay more to fill up their gas tanks, Big Oil companies are raking in record profits, rewarding t
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