Credo
Apr. 21, 2011
UPDATE: Wednesday afternoon, we learned that BP's tax break will be even bigger than was first reported - an outrageous $13 billion!1 A BP spokesman wouldn't say if the company is paying any U.S. taxes at all this year. It could even be getting a refund. Please take action to hold BP accountable.
One year ago, on April 20, 2010, BP's oil began to pour into the Gulf of Mexico. It did not stop for 87 days.
Today, economic and environmental devastation remain. Thousands of Gulf Coast residents cope with massive health problems from oil and toxic dispersants.
BP, on the other hand, just scored a nearly $10 billion dollar credit on their 2010 federal tax return, by writing off their "losses" incurred from the tragedy.2
That's the equivalent of the entire annual budget of the EPA, whose funding was just slashed in the continuing resolution. It is almost one third of all the cuts in the continuing resolution.
Americans shouldn't have to endure massive budget cuts because BP took a $10 billion tax deduction for destroying our gulf. Tell BP: Amend your tax return and pay your fair share.
Responding to BP's monumental catastrophe cost a massive amount of resources from local, state and federal governments. Now, BP is dealing another massive blow to our nation's tax revenue.
The $10 billion savings comes after BP wrote-off the $32.2 billion it set aside to cover clean-up costs, fines, and a $20 billion victim compensation fund (which has been notoriously slow and stingy in responding to claims, paying out less than 4 billion so far.3)
Apr. 21, 2011
UPDATE: Wednesday afternoon, we learned that BP's tax break will be even bigger than was first reported - an outrageous $13 billion!1 A BP spokesman wouldn't say if the company is paying any U.S. taxes at all this year. It could even be getting a refund. Please take action to hold BP accountable.
One year ago, on April 20, 2010, BP's oil began to pour into the Gulf of Mexico. It did not stop for 87 days.
Today, economic and environmental devastation remain. Thousands of Gulf Coast residents cope with massive health problems from oil and toxic dispersants.
BP, on the other hand, just scored a nearly $10 billion dollar credit on their 2010 federal tax return, by writing off their "losses" incurred from the tragedy.2
That's the equivalent of the entire annual budget of the EPA, whose funding was just slashed in the continuing resolution. It is almost one third of all the cuts in the continuing resolution.
Americans shouldn't have to endure massive budget cuts because BP took a $10 billion tax deduction for destroying our gulf. Tell BP: Amend your tax return and pay your fair share.
Responding to BP's monumental catastrophe cost a massive amount of resources from local, state and federal governments. Now, BP is dealing another massive blow to our nation's tax revenue.
The $10 billion savings comes after BP wrote-off the $32.2 billion it set aside to cover clean-up costs, fines, and a $20 billion victim compensation fund (which has been notoriously slow and stingy in responding to claims, paying out less than 4 billion so far.3)
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