BP tax break may force public to pick up oil spill cost
Mike Deeson 32 days ago
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Tampa, Florida -- BP has been saying since the oil spill in the Gulf that it would pick up all the costs. However, it now appears the American taxpayer will bear much of the burden.

That is in contradiction to the TV ads the company has been running, where former CEO Tony Hayward says BP has taken responsibility, and the clean-up costs will not come at any expense to taxpayers.

Now, it appears that promise is in the "Liar! Liar! Pants on fire!" category, as we are learning that, under U.S. corporate tax law, BP can take credits on up to 35 percent of its losses. That means the company will get a $10 billion tax savings.

Florida Senior U.S. Senator Bill Nelson says it is unacceptable to have taxpayers bear the burden of $10 billion as a result of this negligence.

Nelson is so outraged he sent this letter to the Chairman of the Senate Finance Committee saying, "I was appalled upon learning BP intends to shift nearly $10 billion of the cost of the Gulf oil spill to the backs of American taxpayers."

Taxpayers we talked to were outraged as well. Ida Martel says it stinks and it is wrong, but she also says she is not surprised. Greg Polk says it make him feel crappy and bad. He says BP should be held responsible for it.

And Nelson says with the damage BP did to the birds, sea life and the Gulf, for the company to get a tax break and put the cost on the backs of the American taxpayers, it is outrageous. He adds it is not playing fair with the American people.

While Hayward in the TV commercials said to those affected and their families he is deeply sorry, sorry is also the same word the public is using when they hear about the tax breaks.
Mike Deeson, 10 Connects
http://www.wtsp.com/news/local/story.as ... yid=139010