Blue Herald
10
Dec
New Senate Energy Leader Questions Plan to Repeal Tax Breaks
by QuestionGirl
WASHINGTON House Speaker-to-be Nancy Pelosi’s plan to repeal tax breaks for oil companies in the first 100 hours of the new Congress could face roadblocks in the Senate.

Democratic Senator Jeff Bingaman of New Mexico says trying to do it in the first couple of weeks would be rushing things.

Bingaman has been the committee’s ranking Democrat and will become its chairman under a Democratic majority.

He expressed reservations about rolling back tax breaks enacted as part of the 2005 energy act that are aimed at encouraging domestic oil and gas production. He says hearings should be held before any such incentives are killed.

Pelosi spokesman Brendan Daly says the 100 hours timeframe applies to the House only. He says Pelosi will work with senators on any concerns.

Source

Tags: none
Filed: Congress, Oil

Leave a ReplyMeta InfoEmailPrint+Share • 12:41 am

Related: