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Re: Senate vote on Big Oil windfall tax and tax br
Quote:
Originally Posted by tstew
What about this part about the tax breaks. Do you feel that the same idea applies?
In addition to the proposed windfall profits tax, the Democrats' bill also would have rescinded tax breaks that are expected to save the oil companies $17 billion over the next 10 years. The money would have been used to provide tax incentives for producers of wind, solar and other alternative energy sources as well as for energy conservation.
In an attempt to dampen oil market speculation, the legislation would require traders to put up more collateral in the energy futures markets and would provide authority to regulate U.S.-based trading in foreign markets. And it would make oil and gas price gouging a federal crime, with stiff penalties of up to $5 million during a presidentially declared energy emergency.
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I pretty much don't believe any of it til it happens from either side. The problem is they always attach something else to their bills.
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