6 years ago
Under new tax code, oil companies get rebates, not bills
Some of the biggest names in the oil industry managed to avoid paying any taxes last year under the new tax code that President Donald Trump and congressional Republicans passed in 2017. Despite earning billions of dollars in profits, companies such as the California oil major Chevron, the Houston independent oil companies Occidental Petroleum and EOG Resources, and the Houston oil field services company Halliburton were able to claim tens of millions in tax rebates, according to a study earlier this month by the Institute on Taxation and Economic Policy.
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