House Democrats Float Bill To Close Tar Sands Tax Gap

Law360, New York (September 20, 2012, 5:20 PM EDT) -- Three Democratic lawmakers in the U.S. House of Representatives proposed a bill Thursday that would reverse a U.S. Internal Revenue Service decision exempting tar sands oil importers like Enbridge Inc. from paying into a federal liability fund for oil spill cleanup costs.

Rep. Ed Markey, D-Mass., along with Rep. Earl Blumenauer, D-Ore., and Rep. Bill Pascrell Jr., D-N.J., introduced legislation called the Tar Sands Tax Loophole Elimination Act, saying it would clarify the definition of "crude oil" to include tar sands and ensure importers pay into...
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