Senate to debate bill that would repeal oil, gas tax incentives

03/27/2012 | Wall Street Journal, The

The Senate will tackle legislation that seeks to repeal about $20 billion in tax incentives for oil and natural gas companies and use the funds to reduce the federal budget deficit and replenish lapsed renewable-energy tax incentives. "Republicans plan to support moving forward on a debate on the legislation, because frankly, we think it is a debate that Americans deserve," said Senate Minority Leader Mitch McConnell, R-Ky.

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