Letter: Protect energy tax credits
Our unnecessarily complex tax code will get more complex if the Obama administration gets its way in its final 16 months.
One way the president and his allies wish to upend the our tax system is to get rid of standard tax credits used by companies that produce energy. Far from being a subsidy for “big oil,” the Section 199 deduction that many in Congress want to take away from energy producers is available to almost all domestic manufacturers.
Even though oil and gas businesses have kept our economy above water in recent years, the president and congressional liberals continue to see them as prey, rather than as an economic sector that has produced good-paying jobs for Coloradans and Americans.
Elected leaders in and from Colorado need to see past this demagoguery and favor tax reform that does not pick winners and losers in the economy and does not burden industries that produce plentiful jobs.
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