Admin's New Budget Raises $31B in Taxes, Fees on Energy Production

by Benjamin Domenech on 1:25 am March 4, 2009

The energy crisis killed Obama’s promise for a windfall tax on oil companies, but the new budget anticipates $31B in new levies, mostly by adding fees, an excise tax, and repealing tax deductions, including preventing companies from deducting their drilling costs. They won’t pass this on to consumers, now will they?

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