Title: Oil and Gas Production Tax
Vote to pass a bill that increases the production tax on gas and oil companies to 25 percent.
-Establishes a standard deduction for oil companies based on the producer's operating expenses (Sec. 50). -Allows producers to receive a tax credit equal to 30 or 40 percent of their exploration expenditures (Sec. 29).
NOTE: THIS VOTE RECONSIDERS A PREVIOUS VOTE.
Title: Oil and Gas Production Tax