Tell President Obama ‘No New Energy Taxes’
Currently, the President and some Members of Congress are calling for an end to the dual capacity credit, which allows American energy companies to deduct a portion of foreign taxes they pay from their U.S. tax bills, and to the firms’ ability to take a domestic manufacturing deduction allowed under Section 199 of the Tax Code. Both of these provisions are available to nearly all American businesses. However, President Obama and Congress are only seeking to repeal them for energy companies.
SOURCE National Taxpayers Union
Posted on May 4, 2011, in GEOPOLITICS, Natural Gas, Video's and tagged Barack Obama, Deepwater Horizon oil spill, energy, Energy Taxes, ExxonMobil, National Taxpayers Union, Natural Gas, Offshore drilling, oil, President Obama, Shale gas, Tax, United States, United States Congress, United States Department of Energy. Bookmark the permalink. Comments Off on Tell President Obama ‘No New Energy Taxes’.