Oil Industry Tax Breaks Preserved in House Democrats' Proposal - Bloomberg

House Democrats are rebuffing President Joe Biden’s call to end a raft of tax breaks cherished by the oil industry.

Instead, a draft tax overhaul unveiled by the House Ways and Means Committee steers clear of axing the oil industry-targeted preferences, some of which date back more than a century. The omission was blasted by environmentalists, who argue that tax deductions that help oil companies recover the costs of drilling have no place in a warming world. 

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September 13, 2021 at 11:51PM
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Oil Industry Tax Breaks Preserved in House Democrats' Proposal - Bloomberg
"oil" - Google News
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