Authors: Salvatore Lazzari, Economics Division
Abstract: This report provides an overview of the crude oil windfall profit tax that was in existence from 1980 to 1988. The first section describes the structure of the tax. The second section provides a history of events surrounding enactment of the tax. The third section discusses the rationale for the tax. The fourth section examines the revenue effects and other economic effects. The lessons that can be learned from the eight-year experience with the tax and the implications of reinstating the tax are discussed in the final section.
Pages: 30
Date: Updated September 12, 1990
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