Excess War Profits Act of 2006

The Excess War Profits Act of 2006 proposed a 15% supplemental tax on income earned by companies through federal contracts for goods or services related to the war in Iraq. This additional tax would have applied specifically to corporate profits derived from war-related business, while explicitly exempting the pay of U.S. military personnel and federal employees. The bill was designed to ensure that private contractors contributed a higher percentage of their war-related earnings back to the federal government during the conflict.