Extortion House OKs New Taxes on Big Oil Companies

Law. the crime of obtaining money or some other thing of value by the abuse of one's office or authority.

WASHINGTON (AP) — The House approved $18 billion in new taxes on the largest oil companies Wednesday as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.

The money collected over 10 years would provide tax breaks for wind, solar and other alternative energy sources and for energy conservation. The legislation, approved 236-182, would cost the five largest oil companies an average of $1.8 billion a year over that period, according an analysis by the House Ways and Means Committee.

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Extortion House OKs New Taxes on Big Oil Companies

Extortion House OKs New Taxes on Big Oil Companies

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