Quartz·2 min read·medium
A Senate Democrat will introduce a bill to strip oil companies' overseas tax breaks
✦AI Summary
A Senate Democrat is proposing legislation to eliminate tax breaks for oil companies on their overseas extraction income. The bill is being introduced as a response to rising U.S. gasoline prices exceeding $4 per gallon.
The legislation targets preferential tax treatment for overseas oil and gas extraction income as U.S. pump prices top $4 a gallon
politicsbusinesseconomy
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