February 26, 2009

THE GOOD THING ABOUT TAXING OIL COMPANIES...:

Obama's budget plan seeks repeal of oil and gas industry tax breaks (BEN GEMAN, 2/26/09, NY Times)

President Obama's budget proposal would repeal several oil industry tax incentives while imposing new taxes on Gulf of Mexico producers to close "loopholes" that have allowed companies to avoid royalty payments.

The overall budget eliminates $31.5 billion in "oil and gas company preferences" over a decade, according to a slender summary released by the White House this morning.


Panel Suggests Higher Gas Tax (KATE GALBRAITH, 2/26/09, NY Times)
A commission established by Congress to study options for financing the nation’s roads and bridges on Thursday recommended raising the federal gas tax by 10 cents a gallon.

...is that they just pass the cost on to the consumer.

Posted by Orrin Judd at February 26, 2009 6:00 PM
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