US Oil Industry Tax Breaks May Face Repeal

摘要

If Congress approves the compromise deal to raise the federal debt ceiling, a slew of corporate tax breaks could be considered for repeal over the next three months, including deductions for oil companies and credits for refiners that blend ethanol into gasoline. The White House and congressional leaders reached a tentative agreement at the weekend to raise the debt ceiling and avoid a US default, while giving Congress three months to strike a more permanent deal on spending and tax reform.