I know the House had a hearing in 1999. The Clinton administration proposed a 1.5-cent credit penalty per kilowatt hour. Why did the chairman come up with a 3-cent penalty, double what the Clinton administration proposed a couple of years ago?
Questioning the increase in proposed credit penalties during a discussion on energy policy.
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I do not defend 199, period. I think Congress--when you are rewriting the tax code, you should have a uniform corporate rate, not a lower rate for manufacturing.
The administration's proposal would dramatically scale down the activity in the oil patch.
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