Chuck Schumer: “The windfall profits tax part of this bill, which I helped write, is a different windfall profits tax. It says when the…”

“The windfall profits tax part of this bill, which I helped write, is a different windfall profits tax. It says when the level of profitability is very high, take that money and require that it be used for alternative energy. That is not too much to ask of ExxonMobil or of Chevron, Texaco, or any of these newly merged oil firms. It will not do all the things my colleague from Kentucky said but instead will force the oil companies that are not sacrosanct to start doing something to help get us out of this mess instead of just profiting from it.”