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iTax Bill Aims At Oil Depletion
In Washington AP report congress plans a multibillion dollar bill to end the oil depletion allowance while offering tax relief to average taxpayers. Rep. Mills announces aims for action Dec 4 5 with a committee vote later in the week. The bill would cut 1974 taxes and impose a windfall profits tax on oil companies beginning next year while phasing the depletion allowance to zero by 1975.
MENTIONED IN THIS ARTICLE
Washington
iTax
Congress
Wilbur D. Mills
D- Park
House
Ways and Means Committee
Mills
Senate