No broad-based energy taxes in 1991 budget
This article discusses energy taxes in 1991 budget. On September 30, less than 12 hours before automatic across-the-board budget cuts were to go into effect at the start of a new fiscal year, President Bush announced that congressional negotiators had agreed upon a budget package for FY 1991. At press time, Congress had not voted on the measure, but was expected to do so soon. Utility industry groups were happy that the much-talked-about broad-based energy tax - on Btu's or carbon emissions - was missing. The gasoline tax, however, currently nine cents a gallon, is due for two five-cent increases, on December 1 and July 1. Petroleum-based products - excluding home heating oil, but including gasoline - would be taxed an additional two cents on January 1. Expected revenues from the two taxes: $56.8 billion in five years.
- OSTI ID:
- 5247772
- Journal Information:
- Public Utilities Fortnightly; (United States), Vol. 126:9; ISSN 0033-3808
- Country of Publication:
- United States
- Language:
- English
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POLICY AND ECONOMY
ENERGY SOURCES
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290200 - Energy Planning & Policy- Economics & Sociology