Oil lobby takes step back from Romney tax comments
Jack Gerard/Energy Guardian Photo
The oil lobby's top trade group on Thursday refused to embrace Republican presidential candidate Mitt Romney's suggestion to slash billions of dollars in annual industry tax breaks in return for lower corporate income tax rates.
Romney said Wednesday during his debate with President Barack Obama that some $2.8 billion in industry incentives would be "on the table" if rates were cut from 35 percent to 25 percent, as he has proposed.
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