Oil Archive

TweetShareSharePin0 Shares Congressional lawmakers are putting together a reconciliation bill to enact much of President Biden’s Build Back Better agenda. Many lawmakers, however, want to make their own mark on the legislation. Senate Finance Committee Chair Ron Wyden (D-OR) has released his own proposals on a variety of tax issues that differ in some important

TweetShareSharePin0 Shares Key Findings The Biden administration’s budget proposals have several provisions focused on raising taxes on the U.S. fossil fuel industry. These proposals largely depart from neutral tax policy and intentionally target the industry. Internal Revenue Service data does not indicate any substantial tax preference for the fossil fuel industry, rather indicating the industry