On 5/28, the House passed the American Jobs and Closing Tax Loopholes Act (H.R. 4213). The bill contains several environmental provisions, including one that would extend the energy efficiency home credit, which encourages the construction of homes that use 50 percent less heating and cooling. In response to the Gulf Coast oil spill, the legislation also includes a new provision to increase the amount available in the Oil Spill Liability Trust Fund to cover individuals, businesses and governments for damages resulting from an oil spill. The funds would come from raising the tax on oil companies from 8 cents per barrel to 34 cents per barrel. NRDC worked successfully to keep several tax credits for dirty energy out of the bill, including one for liquid coal and another for a costly subsidy to conventional corn ethanol. The Senate will take up the bill after the Memorial Day recess.
Do you agree with the increased tax on Oil Companies? Do you think our Federal Government will ensure that BP pays for the clean as promised by the CEO of BP?
The Business View 