Gas Tax Loopholes Highlight Oil Lobby Power
Washington column discusses how oil and gas interests benefited from depletion allowances and lax regulation to avoid taxes and fund lobbying. It notes the McClellan committee’s inquiries, large campaign contributions, and attempts to curb lobby influence with no roll call votes.
MENTIONED IN THIS ARTICLE
Washington
Congress
Federal Power Commission
Francis Case
S. Dal
Senate
Superior Oil Company of California
John McClellan
D., Ark
Senator Case
McClellan
John Williams
Del
Paul Douglas
Ill
Superior Oil Company
Treasury
Taxpayer empathy debate on Kerr-McGhee profits and gas bill
A column recalls Kerr-McGhee Industries linked to Sen. Robert Kerr showing years with low or zero income tax payments while profits rose. The piece notes Eisenhower supported the gas bill and cites Sen. Douglas on tax incentives for large producers and potential rate boosts from FPC regulation.
MENTIONED IN THIS ARTICLE
Kerr-McGhee
Robert Kerr
Okla
Eisenhower
Congress
Douglas
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