USLegal Reporter

An energy bill that would have placed heavier taxes on major oil companies failed to garner enough support in the Senate today.

The Democratic proposal aimed to roll back $17 billion in tax breaks for major oil companies. It would have also placed additional tax burdens on oil companies that did not invest in alternative energy sources. 

The bill did not obtain enough votes to be taken up for full consideration. 

Source: http://www.nytimes.com/2008/06/11/business/11congweb.html?hp

This entry was posted on Tuesday, June 10th, 2008 at 4:03 pm and is filed under Energy, Environment. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.