rssEngel Bill to Block Tax Deductions of Oil Spill Costs
Friday, July 30, 2010 at 1:30 pm
- 13 Comments
On the House floor, Rep. Eliot Engel (D-N.Y.) just said he will introduce legislation that would prevent oil companies from claiming a tax deduction for oil spill expenses. Engel did not give details on the legislation, but I’ve put a call into his office to get a copy of the bill.
It’s been widely reported that BP plans to claim a $10 billion tax deduction, and lawmakers have criticized the move, with Sen. Bill Nelson (D-Fla.) calling for an investigation into the issue.
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13 Comments
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Engel Bill to Block Tax Deductions of Oil Spill Costs…
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Pingback posted July 30, 2010 @ 5:42 pm
[...] a copy of Rep. Eliot Engel’s (D-N.Y.) legislation that would prevent BP from claiming a $10 billion tax deduction from the cost of responding to the [...]
Pingback posted July 30, 2010 @ 6:42 pm
[...] a horrible idea, and Rep. Eliot Engel (D-NY) agrees. Today he announced plans to block the taxpayer bailout of BP, promising to introduce legislation that would block BP [...]
Pingback posted July 30, 2010 @ 8:40 pm
[...] bailout. Of course, that assumes BP is able to get its hands on a bailout in the first place: legislation is on its way to make sure they can’t profit from the spill. Let’s hope it gets passed [...]
Pingback posted July 30, 2010 @ 9:17 pm
[...] bailout. Of course, that assumes BP is able to get its hands on a bailout in the first place: legislation is on its way to make sure they can't profit from the spill. Let's hope it gets passed [...]
Pingback posted July 30, 2010 @ 9:20 pm
[...] bailout. Of course, that assumes BP is able to get its hands on a bailout in the first place: legislation is on its way to make sure they can’t profit from the spill. Let’s hope it gets passed [...]
Pingback posted July 31, 2010 @ 11:05 am
[...] Engel Bill to Block Tax Deductions of Oil Spill Costs « The … [...]
Pingback posted July 31, 2010 @ 12:24 pm
[...] Engel Bill to Block Tax Deductions of Oil Spill Costs « The … [...]
Pingback posted July 31, 2010 @ 3:03 pm
[...] and whether BP should deduct the full cost of its $20 billion cleanup fund. Article is here. But wait! There is more. On the House floor, Rep. Eliot Engel (D-N.Y.) just said he will introduce legislation that [...]
Trackback posted September 24, 2010 @ 4:00 am
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