Energy taxes fought by industry
Journal Article
·
· Chemical Week; (United States)
OSTI ID:6918206
Tax talk is heating up in Washington, and industry interests are beating the drum against any and all energy tax proposals. Without offering any details, Treasury Secretary Lloyd Bentsen has placed a broad-based energy tax on the table. American Petroleum Institute (API) president Charles J. DiBona says such a tax would damage the US economy just as it is beginning to recover. He acknowledges the deficit is a national problem, but says if any additional tax is required it should be a broad-based consumption tax such as a European-style value-added tax, a view shared by the Chemical Manufacturers Association (CMA). DiBona says taxes aimed only at energy would hurt consumers, damage the international competitiveness of US industry by raising energy prices, and raise the costs of doing business. National Association of Manufacturers president Jerry Jasinowski adds that broadbased energy taxes are really taxes on industrial production that will harm US made goods both at home and abroad.
- OSTI ID:
- 6918206
- Journal Information:
- Chemical Week; (United States), Journal Name: Chemical Week; (United States) Vol. 152:5; ISSN CHWKA9; ISSN 0009-272X
- Country of Publication:
- United States
- Language:
- English
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