Paper Companies Black Liquor Tax Credit Loophole & Healthcare
source: http://www.insurancenewsnet.com/article.asp?n=1&innID=1068445233
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Recently, the house and the senate have drafted opposing legislation on this matter into the new health care legislation (HR 3962). Black liquor is a toxic by-product of making pulp for paper production. It has been burned by paper companies as fuel for decades.
After mixing it with diesel, it's burned by the paper company as fuel, which qualifies them for a tax credit, enacted in 2007.
According to wikipedia, for one large company (International Paper) this could amount to as much as $3.7 billion in benefits per year.
This is another example of massive tax breaks for large companies that are not in the interest of the American public. Burning black liquor has a major negative effect on the environment, not to mention the additional consumption of diesel fuel. Additionally, smaller companies that produce 100% recycled post consumer paper cannot compete (they don't produce or use black liquor/diesel fuel so they can't get the massive tax break).
I encourage you to contact your representatives on this matter.
more at the article above and here:
http://en.wikipedia.org/wiki/Black_liquor
After mixing it with diesel, it's burned by the paper company as fuel, which qualifies them for a tax credit, enacted in 2007.
According to wikipedia, for one large company (International Paper) this could amount to as much as $3.7 billion in benefits per year.
This is another example of massive tax breaks for large companies that are not in the interest of the American public. Burning black liquor has a major negative effect on the environment, not to mention the additional consumption of diesel fuel. Additionally, smaller companies that produce 100% recycled post consumer paper cannot compete (they don't produce or use black liquor/diesel fuel so they can't get the massive tax break).
I encourage you to contact your representatives on this matter.
more at the article above and here:
http://en.wikipedia.org/wiki/Black_liquor
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