The intention of the tax code is to encourage investments and to help companies even out profit and loss, along with the associated taxes. Lawmakers just forgot to incorporate a rider clause for public safety and/or environmental damage related expense. The tax credit, if claimed, could mean $10 billion of the Gulf aftermath costs would come out of taxpayers’ pocket.

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Topics:  gulf   administration   president obama   bp   billion   tax credit   damage   
BING NEWS:
  • Biden administration releases plans for new minimum tax on large companies
    The new minimum tax on large companies by the Biden administration aims to raise $250 billion over the next decade.
    09/12/2024 - 1:55 am | View Link
  • How Harris' and Trump's tax and spending plans affect US debt
    Vice President Kamala Harris and Republican opponent Donald Trump have floated new tax breaks and spending plans, as they try to win votes by persuading Americans their ideas will do more to ease ...
    09/10/2024 - 12:49 pm | View Link
  • Trump, Harris tout tax plans ahead of presidential debate
    Former President Trump and Vice President Harris have been rolling out new elements of their tax plans in the days leading up to their presidential debate in Philadelphia on Tuesday.
    09/9/2024 - 11:00 pm | View Link
  • IRS Recovers $1.3 Billion from Wealthy Tax Dodgers Amid GOP Criticism
    The U.S. Treasury Department announced a significant milestone in its crackdown on tax evasion among the nation's wealthiest individuals, revealing that the IRS has recovered $1.3 billion in unpaid ...
    09/7/2024 - 1:22 am | View Link
  • S&P 500 Earnings Could Face Major Swings Under Harris Or Trump Tax Plans, Goldman Sachs Warns
    Tax proposals outlined by the 2024 U.S. presidential candidates could have a substantial impact on S&P 500 earnings, according to analysis from Goldman Sachs. Goldman strategists including Ben Snider ...
    09/5/2024 - 5:37 am | View Link
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