WASHINGTON — Executives of five of the largest oil companies on Thursday defended the $2.1 billion they receive each year in tax breaks, but said they would be willing to give them up as part of a comprehensive reform of the tax code.
At a three-hour Senate Finance Committee hearing that was largely political theater interrupted occasionally by a serious tax policy discussion, the oil industry executives said their current tax breaks were not subsidies but legitimate tax deductions, shared in some cases with other industries.
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The WOP supports this bill. "We want to make the earth a better place to live in, and the only way to do that is to protect the environment," Nicole, Leader of the WOP has said. To help protect the environment we have created regulations on businesses and less tax deductions for these oil producing companines and other industires such as coal and natural gas.
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