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Senate Democrats seek to tax oil companies
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2008/05/08 08:00
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| Senate Democrats called Wednesday for a limited windfall profits tax on the largest oil companies and a rollback of $17 billion in oil industry tax breaks as part of an energy package that also would impose federal penalties on energy price gouging. Senate Republicans strongly oppose those measures, which are widely viewed as having little chance of being enacted. Even then, they would almost certainly prompt a veto by President Bush. The 25 percent windfall profits tax would apply only to oil companies that "fail to invest in increased (production) capacity and renewable energy sources," according to a summary of the proposals released by Senate Majority Leader Harry Reid's office. The energy proposals also seek to halt deliveries of oil into the government's Strategic Petroleum Reserve until oil prices drop to $75 a barrel. |
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Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
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