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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (138681)	8/8/2001 1:21:33 PM
From: i-node	Read Replies (2) \| Respond to of 1577829

Whose party is behind an expensive bill that proposes to give billions in tax breaks to a single industry Tax law has long recognized the risk involved in oil & gas development and, accordingly, has given favorable treatment to Intangible Drilling & Development Costs for years; likewise, depletion, which has been a basic premise of the Internal Revenue Code since '39. So what's new? It has long been acknowledged as US Tax Policy to give favorable tax treatment for activities you want to encourage (ever heard of the Investment Tax Credit?) I really don't see what you're excited about.

To: Alighieri who wrote (138681)	8/8/2001 2:45:10 PM
From: TimF	Respond to of 1577829

Whose party is behind an expensive bill that proposes to give billions in tax breaks to a single industry, Can you post some details about these tax breaks and maybe post a link to an article that summerizes them (I'd prefer a simple summary rather then editorial comment for or against them). Are these tax breaks a matter of eliminating special taxes that had been there in the past or an actual special rate for the oil companies? Tim