Post by Logan on Feb 6, 2016 1:46:48 GMT -6
Sen. John Hoeven, R-N.D., called President Barack Obama's upcoming budget proposal to impose a $10 per barrel tax on crude oil "dead on arrival" in Congress.
“It makes no sense to put a $10 per barrel tax on oil at a time when American companies are competing in a global market and fighting just to stay in business," Hoeven said in a statement.
Obama will formalize the proposal Tuesday when he releases his final budget request to Congress, the Associated Press reports. While the proposal has little chance of passing, the White House is aiming to drive conversations about promoting clean transportation.
The White House told the Associated Press the $10 fee would be phased in over five years and provide $20 billion per year for investment in transit systems and new modes of transportation, including high-speed rail and self-driving cars.0
Read more: bismarcktribune.com/bakken/senator-calls-federal-oil-tax-dead-on-arrival/article_b79bfb50-8206-544d-b118-ff44b100771a.html
“It makes no sense to put a $10 per barrel tax on oil at a time when American companies are competing in a global market and fighting just to stay in business," Hoeven said in a statement.
Obama will formalize the proposal Tuesday when he releases his final budget request to Congress, the Associated Press reports. While the proposal has little chance of passing, the White House is aiming to drive conversations about promoting clean transportation.
The White House told the Associated Press the $10 fee would be phased in over five years and provide $20 billion per year for investment in transit systems and new modes of transportation, including high-speed rail and self-driving cars.0
Read more: bismarcktribune.com/bakken/senator-calls-federal-oil-tax-dead-on-arrival/article_b79bfb50-8206-544d-b118-ff44b100771a.html