Back to the RadioSpace™ home page
NewsDirect story topics:
Consumer, Business & General Interest
Current Events & Public Affairs
Entertainment & Sports
Health & Medicine
Fully produced report in:
mp3PRO format
QuickTime
(MPEG-4/AAC) format
Windows Media Audio
9.2 format
(87 seconds)
-- How Will You Use This Story? --
(OPEN):
A JUST-RELEASED STUDY FINDS THAT THE OBAMA-ADMINISTRATION'S PROPOSAL
TO CARVE OUT U-S ENERGY-FIRMS FROM RECEIVING CERTAIN TAX-DEDUCTIONS
WOULD HAVE A NET-NEGATIVE IMPACT ON FEDERAL REVENUES. THE STUDY
WAS CONDUCTED BY LOUISIANA STATE UNIVERSITY ENDOWED CHAIR OF
BANKING, DOCTOR JOSEPH MASON...
(MASON):
"REPEALING
DEDUCTIONS FOR AMERICAN ENERGY-MANUFACTURERS WOULD RESULT IN 30-BILLION
DOLLARS IN FEDERAL TAX-REVENUES--BUT AT THE EXPENSE OF ABOUT 340-BILLION
DOLLARS IN ECONOMIC-OUTPUT. THERE WOULD BE OVER 155-THOUSAND LOST
JOBS; 68-BILLION DOLLARS IN LOST WAGES; AND MORE THAN 83-BILLION
DOLLARS IN REDUCED TAX-REVENUES. IN FACT, THERE WOULD BE A NET
FISCAL-LOSS IN REVENUES OF OVER 53-BILLION DOLLARS."
(BRIDGE):
DOCTOR MASON'S STUDY WAS SPONSORED BY THE AMERICAN ENERGY
ALLIANCE. A-E-A PRESIDENT, THOMAS PYLE,
ADDS...
(PYLE):
"THE ADMINISTRATION'S PROPOSAL TO ELIMINATE THESE
DEDUCTIONS IS GROSSLY COUNTERPRODUCTIVE: SUCH A MOVE WOULD HAVE A
NET-NEGATIVE IMPACT ON REVENUES--THEREBY INCREASING FEDERAL DEFICITS.
IF THE GOAL TRULY IS DEFICIT-REDUCTION, A FAR-BETTER APPROACH WOULD BE
REFORMING FEDERAL TAX- AND BUSINESS-POLICIES THAT ENCOURAGE
ECONOMIC-GROWTH. EXPANSION OF OIL-AND-GAS EXPLORATION AND
PRODUCTION ON THE OUTER CONTINENTAL SHELF, FOR EXAMPLE, WOULD
GENERATE AN ESTIMATED 11-BILLION DOLLARS IN ANNUAL FEDERAL
TAX-REVENUES, IN THE SHORT RUN--AND 55-BILLION DOLLARS EACH YEAR,
IN THE LONG RUN."
(CLOSE):
FOR MORE INFORMATION ON THE STUDY, VISIT
"AMERICAN-ENERGY-ALLIANCE"-DOT-ORG.
