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The Spectacle Blog
The Senate is scheduled to vote today on a bill by Sens. Jim DeMint (R-SC) and Mike Lee (R-UT) aimed at ending “corporate welfare for energy companies in the tax code.” DeMint and Lee would offset the elimination of tax breaks for renewable energy companies by lowering the corporate tax rate, making their reform revenue-neutural. The measure also tests the Democrats’ oft-stated willingess to end tax breaks for oil companies.
I wrote about such taxpayer subsidies and their poor track record creating green jobs on the main site earlier this week. The president is proposing another $1 billion in green tax credits.
View all comments (2) | Leave a comment
More Blog Posts by W. James Antle, III
http://spectator.org/blog/2012/03/08/demint-lee-push-back-against-s
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DRed| 3.8.12 @ 12:06PM
Now, if their bill would also remove the billions and billions of dollars in tax breaks to the oil & gas industry we might actually be getting somewhere. I guess oil and gas companies aren't 'energy companies'?
PecosPete| 3.8.12 @ 2:15PM
Once the tax breaks are gone for these dastardly oil and gas companies will you be pleased with the corresponding increase in the price of gasoline at the pump(not to mention all the other products produced from oil)?