Obama’s Justice Department may offer a sweetheart deal to BP that is structured to help BP dodge taxes and force taxpayers to foot some of the burden of the 2010 gulf oil spill. The New York Times reports:
“The settlement proposal would cap the amount of fines that BP might pay for violations of the Clean Water Act to $6 billion, significantly less that it might face if the trial proceeds. The proposal would allow BP to pay an additional $9 billion to resolve environmental penalties related to the spill, an alternative that would lessen the impact on the company’s tax liabilities. The environmental penalties, under separate laws, are tax deductible, while fines like those imposed under the Clean Water Act are not.”
Put simply: The US Government is reported to be considering offering a deal to BP that would include a huge tax write-off, to the tune of roughly $9 billion.
TAX DEDUCTIBLE FINES AND PENALTIES FOR CRIMINAL ACTIVITY IS A REPREHENSIBLE IDEA!
SIGN THE PETITION DEMANDING THAT WASHINGTON GET SANE!! http://action.priceofoil.org/p/dia/action/public/?action_KEY=12654
Tell President Obama and Attorney General Holder: We demand that any settlement with BP regarding the 2010 gulf oil spill not include any tax-deductible penalties or fines. BP should not be rewarded for the largest oil spill in US history.
Not my country. Not my President.