Senate Democrats seek to tax oil companies

Lawyer News

Senate Democrats called Wednesday for a limited windfall profits tax on the largest oil companies and a rollback of $17 billion in oil industry tax breaks as part of an energy package that also would impose federal penalties on energy price gouging.

Senate Republicans strongly oppose those measures, which are widely viewed as having little chance of being enacted. Even then, they would almost certainly prompt a veto by President Bush.

The 25 percent windfall profits tax would apply only to oil companies that "fail to invest in increased (production) capacity and renewable energy sources," according to a summary of the proposals released by Senate Majority Leader Harry Reid's office.

The energy proposals also seek to halt deliveries of oil into the government's Strategic Petroleum Reserve until oil prices drop to $75 a barrel.

Related listings

  • Answers to tax rebate questions

    Answers to tax rebate questions

    Lawyer News 04/30/2008

    Q: When do I get my economic stimulus payment (aka tax rebate)? A: Some people may actually see their money as early as today. Here's the schedule, if you filed your federal tax return by the April 15 deadline and the IRS processed it by then. If you...

  • US government begins tax rebates to stimulate economy

    US government begins tax rebates to stimulate economy

    Lawyer News 04/28/2008

    [##_1L|1183324311.jpg|width="140" height="135" alt=""|_##]The US government began giving out tax rebates Monday in hopes the instant cash will spark consumer spending to revive an economy many analysts believe is in recession. The Internal Revenue Se...

  • Tax rebates to start going out Monday

    Tax rebates to start going out Monday

    Lawyer News 04/25/2008

    [##_1L|1136677849.jpg|width="128" height="81" alt=""|_##]Rebates from the 2008 economic-stimulus package are set to begin going out Monday, President Bush said, reiterating that the infusion of cash will help lift the U.S. economy out of its ongoing ...

Grounds for Divorce in Ohio - Sylkatis Law, LLC

A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party

Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party

However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.

Business News

St Peters, MO Professional License Attorney Attorney John Lynch has been the go-to choice for many professionals facing administrative sanction. >> read