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U.S. Lawmakers Reject Plan to Tax Back Oil Company Profits

Article: U.S. Lawmakers Reject Plan to Tax Back Oil Company Profits

By J.R. Pegg WASHINGTON, DC, June 10, 2008 (ENS) – Senate Republicans today derailed a Democratic plan to revoke tax breaks for big oil companies and impose a tax on excessive profits, arguing the proposal would do little to help Americans suffering from record-high gasoline prices. Debate over the measure reflected deep and long-standing partisan…