The House of Representatives has voted to repeal $18 billion of tax breaks for oil and gas producers, as expected. The bill passed by a vote of 236-182.
The bill now heads to the Senate, where it will be more difficult to get a win. Even if it does pass in the Senate, the White House has threatened a veto.
Stay tuned!
In response to the growing ire over the $165 million in bonuses paid out to AIG, Sen. Christopher Dodd (D-CT) has suggested that taxing the compensation might be the answer. The idea is that it would help the government recover some of the money paid out to the executives. AIG has received $173 billion in…
As tax rebate checks are slowly (with a huge emphasis on slowly) making their way to taxpayers, Congress is considering a second round of relief. This relief would be targeted to homeowners facing foreclosure as well as increased spending on bridges, roads and transit systems. There may be renewed interest in foreclosure relief because of…
So even as I was writing the story about the IRS’ audit of Harborside yesterday, I couldn’t make sense of it. It felt so heavy-handed on the part of the IRS that it had to be part of some bigger mandate – this was no mere tax audit. I got my answer this morning when…
Do Americans want to pay higher taxes to pay down our debt? It depends on who you’re listening to. Much has been made of wealthy taxpayers publicly stating that they want to pay higher taxes even as Congress is arguing that most Americans don’t want to taxes to be raised on anyone, full stop. This…
It’s shaping up to be busy today – which is a good thing. Busy means (I hope) that people are voting. I’d love to hear how things are going at the polls! You can email me your updates (election@taxgirl.com) or post them in the comments below. I’ll be posting updates as I hear them on…
In an effort to fund their massive health care plan, members of Congress are scrambling to find revenue. After searching under their car seats and sofa cushions for extra change, they have basically admitted that the well is simply dry. And that proposal to tax employer-provided health care benefits? It’s just not picking up enough…
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Big Oil is not in business to consider the interests of the lowly taxpayer/gas customer but rather the shareholder of whatever nation or interest. Wouldn’t it seem reasonable for B.O. to ask their shareholders to reinvigorate their strained cash flow? Such opinions are hard to grasp among those who stonewall Exxon’s Valdez settlement and can’t be bothered with explaining retirement packages of four hundred million tax packages($400,000,000) to those in question.
Big Oil is not in business to consider the interests of the lowly taxpayer/gas customer but rather the shareholder of whatever nation or interest. Wouldn’t it seem reasonable for B.O. to ask their shareholders to reinvigorate their strained cash flow? Such opinions are hard to grasp among those who stonewall Exxon’s Valdez settlement and can’t be bothered with explaining retirement packages of four hundred million ($400,000,000) to those in question.