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Are Fossil Fuel Subsidies About to Go Green?
Ken Silverstein, EnergyBiz
President Obama is trying to renovate the country's intricate tax system. He won't succeed in time for the November election. But he might pull it off if he sticks around and can build on the existing bipartisan support to accomplish just that.For now, the framework that the president has established is as much a political proclamation as its is a budgetary or tax document. Obama would reduce the top corporate tax rate from 35 percent to 28 percent -- to be paid in part by cutting or eliminating the breaks and subsidies given to the fossil fuel industry. Manufacturers,...
President Obama is trying to renovate the country's intricate tax system. He won't succeed in time for the November election. But he might pull it off if he sticks around and can build on the existing bipartisan support to accomplish just that.For now, the framework that the president has established is as much a political proclamation as its is a budgetary or tax document. Obama would reduce the top corporate tax rate from 35 percent to 28 percent -- to be paid in part by cutting or eliminating the breaks and subsidies given to the fossil fuel industry. Manufacturers,...
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