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Double Tax on Energy Companies

apdst

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How much do these Liberal politicos have invested in green energy projects? Must be millions, if they are willing to kill millions of energy jobs to push their agenda.

Congress is considering an extremely destructive “double tax,” through repealing a widely available credit that offsets taxes paid to other countries. However, this new “double tax” would apply only to energy providers here in the U.S. – meaning state-owned companies in countries like Venezuela and China will effectively receive a competitive edge over American firms. Ironically, even BP – the target of Congress’s ire over the Gulf spill – will gain a tax advantage. Also under consideration in the U.S. Senate is a repeal of Section 199 of the U.S. tax code, a manufacturers’ deduction, for only the oil and gas industry. The deduction allows companies to reinvest revenue into creating jobs and domestic economic growth.

National Taxpayers Union - Citizen Group Launches Multi-Million Dollar Ad Campaign to Stop Higher Energy Taxes
 
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