Senator Menendez: Oil Tax Breaks Should End
By: VERTEXNews/Newsroom Solutions
Updated: February 14, 2011
WASHINGTON, D.C. -- New Jersey Democratic Senator Robert Menendez has announced legislation to end loopholes and tax breaks for big oil.
He tells oil producers, "Your sweetheart tax deals are over." The Senate Finance Committee member estimates a ten year savings to taxpayers of over 20-billion dollars.
He says oil companies have padded their profits at taxpayer expense.
Included in his plan is an effort to recoup royalties oil companies don't pay for oil and gas exploration on public lands.
Menendez says he wants to get back to investing in the good-paying green jobs of the future.
(Copyright 2011 by VERTEXNews/Newsroom Solutions)
He tells oil producers, "Your sweetheart tax deals are over." The Senate Finance Committee member estimates a ten year savings to taxpayers of over 20-billion dollars.
He says oil companies have padded their profits at taxpayer expense.
Included in his plan is an effort to recoup royalties oil companies don't pay for oil and gas exploration on public lands.
Menendez says he wants to get back to investing in the good-paying green jobs of the future.
(Copyright 2011 by VERTEXNews/Newsroom Solutions)
