U.S. Treasury Secretary Attacks Tax Breaks for Oil & Gas Companies
The Energy Law
MARCH 13, 2009
The Secretary’s comments, made when speaking to the Senate Finance Committee on the proposed budget, reinforced the Obama administration’s stance that new U.S. However, the tax will only affect companies currently using a loophole to avoid paying royalties on the energy supplies they drill. billion from 2011 to 2019.
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