Energy Tax Credit Extended
July 7th, 2010
Question: $16 Billion dollar question?
August 04, 2007: 08:43 PM EST
WASHINGTON—(Dow Jones)- The U.S. House of Representatives passed a $16- billion tax bill Saturday that would extend renewable energy tax credits and encourage energy efficiency, paying for itself by axing tax breaks to oil and gas companies.
Now that the oil companies are getting a new tax, how much of this tax will be passed on by the oil companies to consumers such as you and I? Can you afford this tax?
Is this tax a feel good measure by the democrats to say that “we are sticking it to big oil” and not really explaining how this tax will reduce the cost of gasoline to you and I?
Do Nancy Pelosi, John Murtha, and Harry Reid have plans for this money as pet projects in their own districts?
Perplexing questions I would like answer too.
Answer: In the blink of an eye, a $16 billion tax bill can be passed onto oil companies. How can anyone believe the government doesn’t have enough tax money to keep bridges and roads in good repair? The problem is, they don’t use the money for those things.
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