Senate tax writers today unveiled a revamped energy tax package that lets smaller producers off the hook and zeroes in on the major oil companies for higher taxes.
With the Senate poised to vote as early as Thursday on a $21.8 billion energy bill, the Democratic and Republican leaders of the Senate Finance Committee want to hit up the five largest integrated oil companies — Exxon Mobil Corp., Chevron Corp., ConocoPhillips, BP and Shell Oil Co. — for $9.4 billion over 10 years.
That money would be used to help fund a series of tax incentives aimed at promoting use of alternative energy and mitigating release of carbon dioxide emissions.
"If America's really going to make a change in terms of energy policy, encouraging new energy strategies in the tax code must be part and parcel of that effort," Finance Committee Chairman Max Baucus, D-Mont., said in a prepared statement.
Via: Chron|
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