tax breaks
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The tax bill for many big polluters last year: $0
Billions in profits but nothing in taxes.
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Critical List: EPA to release draft rules for power plant emissions; Keystone XL’s doppelgangers
The EPA’s going to release draft rules governing greenhouse gas emissions from power plants. Environmental writer and advocate Sandra Steingraber is using her Heinz Award prize money ($100,000) to start New Yorkers Against Fracking. The world’s going to pass a few climate change tipping points very soon. Republicans and Democrats agree: They should spend some […]
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Republicans put a deadline on Keystone XL, surprising nobody
As predicted, Republicans in the House have grudgingly allowed a two-month extension on the payroll tax holiday, on the condition that they can impose a deadline on Keystone XL pipeline approval. President Obama had postponed approval for a year, based on evidence that the environmental analysis was flawed, but Republicans want a decision NOW NOW […]
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Energy companies get $24 billion of corporate welfare from taxpayers
Cross-posted from ThinkProgress Green. Tax breaks and subsidies for energy companies have gotten so extreme that dozens of top companies have made billions in profits while having negative taxes — actually receiving taxpayer welfare instead of paying anything to the federal treasury. An analysis by Citizens for Tax Justice and the Institute on Taxation and […]
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Tax expenditures: a boring thing you should be outraged about
In budget terms, tax expenditures may look the same as simple government spending, but the political differences are enormously important.
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We can save $78 billion by ending oil and gas subsidies
We could save $78 billion by ending oil and gas subsidies.
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Ending Big Oil’s tax holiday
Will Congress finally end government handouts for Big Oil?Cross-posted from the Center for American Progress. The Senate plans to vote tonight on the Close Big Oil Tax Loopholes Act — legislation that would eliminate $21 billion of tax loopholes over the next decade for the five largest oil companies. The bill, sponsored by Sen. Bob […]
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Oil Executive to Young People: 'As Long I Make Money, I Don't Care What Happens to You'
Cross-posted from Jack & Jill Politics Quick question: Do you think that tax subsidies for the “big five” oil companies — which earned $32 billion in profit during the first quarter of the year — are more important than the financial aid we give to low-income college students? My answer: Of course not. Investing in […]
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Oil bigwigs whine about proposed subsidy cuts
Five oil bigwigs spent this morning complaining to Congress that cutting subsidies to their companies would be, at the very least, "anticompetitive" (Chevron's John Watson) and at worst "misinformed and discrimnatory" (ExxonMobil's Rex Tillerson). The Senate is planning on voting this week on a bill to cut subsides to the five biggest oil companies. The […]