For the WTF file: An oil spill tax to pay for cleaning up spills

[proud2BlibKansan]

WASHINGTON (AP) — Responding to the massive BP oil spill, Congress is getting ready to quadruple — to 32 cents a barrel — a tax on oil used to help finance cleanups. The increase would raise nearly $11 billion over the next decade.

The tax is levied on oil produced in the U.S. or imported from foreign countries. The revenue goes to a fund managed by the Coast Guard to help pay to clean up spills in waterways, such as the Gulf of Mexico.

The tax increase is part of a larger bill that has grown into a nearly $200 billion grab bag of unfinished business that lawmakers hope to complete before Memorial Day. The key provisions are a one-year extension of about 50 popular tax breaks that expired at the end of last year, and expanded unemployment benefits, including subsidies for health insurance, through the end of the year.

The House could vote on the bill as early as Tuesday. Senate leaders hope to complete work on it before Congress goes on a weeklong break next week.

more . . . http://primebuzz.kcstar.com/?q=node/22429#comment-104443

[ixion]

1. Congress, serving the will of their True Masters

as usual.

[sabrina 1]

2. If they only tax the 'drill baby drill' crowd, I could support that.

So once again, the American people are asked to pay for the screw-ups of Big Corporations. When will the people realize that we cannot afford these private corporations?

[aquart]

3. 32 cents? Oh, gee.

That doesn't begin to cover it. I want massive fines. I want windfall profits. I want to take the last dime out of their tailored pockets.

I want PUNITIVE DAMAGES THAT KILL.

[charlesg]

4. We need guillotines, not a clean-up tax

[Dappleganger]

5. There could be an upside to this...

force us to get more serious about alternative energy and conservation.

[Lerkfish]

6. wow, that 32 cents will certainly do the trick.

but I'm not totally down on this idea, I just wish it was a larger amount.

[proud2BlibKansan]

7. And I want the bill to go to BP, not the taxpayers.

[Lerkfish]

10. agreed

[SidDithers]

14. The bill does go to BP...

the tax is paid by the oil producers.

Sid

[greencharlie]

8. oh... I see the PUBS got their way!

"a one-year extension of about 50 popular tax breaks that expired at the end of last year"

[Winterblues]

9. Guess who will have to pay the new taxes?

If anyone believes the Oil Companies will not pass the expense along to consumers I have some lovely beachfront property for sale in the barrier islands off Lousianna.

[proud2BlibKansan]

12. Then maybe seizing BP's assets is a better plan?

[nadinbrzezinski]

11. This is as I understand levied on the Barrel

not on you...

The tax is levied on oil produced in the U.S. or imported from foreign countries. The revenue goes to a fund managed by the Coast Guard to help pay to clean up spills in waterways, such as the Gulf of Mexico.

And it comes from Valdez... it goes to the trust fund.

[JoeyT]

13. Hey, $11 billion over the next decade,

just in time for the next colossal fuckup that absolutely no one could have possibly predicted.*


*No one except scientists, liberals, environmentalists, and various other doomsayers that everyone ignores on a regular basis. No matter how often we turn out to be right.

[Bluebear]

15. But YES! Cap the liability limit for the oil companies and charge us! Wow.