GOP Sens. Balk on oil and gasoline tax will increase for infrastructure law

Law360 (Apr 27, 2021, 4:23 p.m. EDT) – Democratic proposals to abolish preferential tax treatment for oil and gas companies would be for GOP lawmakers to negotiate with Democrats on a major infrastructure bill, Senate Republicans, no rookie Finance Committee said Tuesday .

The various tax incentives for oil and gas companies have been part of U.S. tax law for decades and have contributed to energy efficiency efforts, Senator John Barrasso, R-Wyo., Said during a committee hearing. Incentives include the oil recovery tax credit and the deduction for intangible drilling costs.

These tax breaks that helped the US …

Stay ahead of the curve

In the legal profession, information is the key to success. You need to know what is happening to customers, competitors, areas of activity, and industries. Law360 has the information you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, type of lawsuit, etc.)
  • Access to attached documents such as Briefs, petitions, complaints, decisions, motions, etc.
  • Create custom notifications for specific article and case topics, and more!