So you oppose repeal. The tax code, as you know, includes a bonus depreciation provision for oil refineries, and it allows refiners to immediately write off 50% of the … An extension of this credit is included in a pending Senate tax extenders bill, estimated to be a $20 million cost to the taxpayers. … tax subsidy? No, sir. And if you in the history of that was the EPACT05 and the negotiations in this very room on the best path forward to continue to provide domestic. (02:24–02:31)
CLAIM
Asserts that extending the low sulfur diesel tax credit will cost taxpayers $20 million.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
