Energy Industry Unclear About Ramifications of Obama's Tax Plans

摘要

As President Barack Obama outlined a plan to boost employment by cutting taxes for households and businesses last week, he reiterated his call to end tax breaks for oil and gas companies but also held out the prospect of a reduction in the corporate tax rate for all industries. Since taking office in January 2009, the president has been pressing for the elimination of tax breaks for the oil and gas industry worth an estimated $30 billion to $40 billion over 10 years, and the industry has been lobbying hard to keep them in place.