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Reply #8: Fact Check: Oil & gas giveaways stripped from final Bill [View All]

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Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
WillYourVoteBCounted Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-15-08 04:49 PM
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8. Fact Check: Oil & gas giveaways stripped from final Bill
The bill provided incentives for "clean coal", alt fuels, energy efficient cars, homes...

On Energy & Oil: FactCheck: Oil & gas giveaways stripped from final 2005 Bill


While it's true that Republican lawmakers had once considered large tax breaks for oil and gas companies in the bill, the biggest of them had been stripped out of the bill by the time it passed.

It's true that the Energy Policy Act contained $14.3 billion in tax breaks, but most went to electric utilities for such things as incentives for new transmission lines & "clean coal" facilities, and also for incentives for alternative fuels research and subsidies for energy efficient cars and homes.

The bill did give $2.6 billion in tax breaks for oil companies, but those were offset by $2.9 billion in tax increases



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