Text of Engel Bill Blocking Oil Company Tax Deductions
Here’s 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
Jul 31, 2020304.7K Shares4M Views
Here’s a copy of Rep. Eliot Engel’s (D-N.Y.) legislationthat would preventBP from claiming a $10 billion tax deduction from the cost of responding to the spill.
The “Denial of Certain Tax Benefits to Offending Oil Polluters Act of 2010,” as it is called, says: “In the case of an offending oil polluter, no deduction or credit shall be allowed…with respect to any amount paid or incurred in connection with a discharge of oil…”
Just some light weekend reading.
Rhyley Carney
Reviewer
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