Direct subsidies
Intangible Drilling Costs Deduction (26 U.S. Code § 263. Active)
Percentage Depletion (26 U.S. Code § 613. Active)
Credit for Clean Coal Investment Internal Revenue Code § 48A (Active)
Nonconventional Fuels Tax Credit (Internal Revenue Code § 45. Inactive)
Indirect Subsidies
Last In, First Out Accounting (26 U.S. Code § 472. Active)
Foreign Tax Credit (26 U.S. Code § 901. Active)
Master Limited Partnerships (Internal Revenue Code § 7704. Indirect. Active)
Domestic Manufacturing Deduction (IRC §199. Indirect. Inactive)
IDCs? LOL!
Why is writing off a business expense a subsidy?
Percentage Depletion?
I think that "costs" about $1 billion a year.
And only very small producers get it. None for Exxon.
Credit for Clean Coal Investment
I think that's about $1 billion a year....kill it.
Last In, First Out Accounting (26 U.S. Code § 472. Active)
Everyone can do that.
Foreign Tax Credit
Everyone can do that.
Master Limited Partnerships
Everyone can do that.