Peter Welch: “Section 199 of the Domestic production incentive provides a…”

“I want to ask if NPRA would support the removal of several energy subsidies in the tax code, which some folks would think would provide a level playing field. Let me just go through these. My understanding is that Section 199 of the Domestic production incentive provides a tax rate reduction on refinery income. And that subsidy is, According to the CBO, expected to cost taxpayers about 14.8 billion over 10 years for the oil and gas industry.” (01:03–01:11)

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