The Obama administration is strongly endorsing a congressional Democratic plan to strip oil companies of billions in tax breaks, citing high gas prices, company profits and the national debt.
The Obama administration is strongly endorsing a congressional Democratic plan to strip oil companies of billions in tax breaks, citing high gas prices, company profits and the national debt. "The nation's outdated tax laws currently provide the oil and gas industry billions of dollars per year in these subsidies, even though oil and gas prices are high and the industry is reporting out-sized profits," said a just-released Statement of Administration Policy.
Obama backs bill to strip oil companies of tax breaks - USA Today
The Obama administration is strongly endorsing a congressional Democratic plan to strip oil companies of billions in tax breaks, citing high gas prices, company profits and the national debt. "The nation's outdated tax laws currently provide the oil and gas industry billions of dollars per year in these subsidies, even though oil and gas prices are high and the industry is reporting out-sized profits," said a just-released Statement of Administration Policy.
Manufacturer of Diesel Tanks India.
The (Obama) Administration strongly supports Senate passage of S. 940, which would repeal tens of billions of dollars in special tax breaks for oil and gas companies over the next decade.Obama backs bill to strip oil companies of tax breaks - USA Today
