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Bill to repeal foreign tax credit introduced in US House
Oil & Gas Journal: US House Rep. Julia Brownley (D-Calif.) has introduced a bill that would repeal the foreign tax credit, a provision US multinational oil companies consider essential for them to compete with overseas enterprises that receive government subsidies.
The measure would redirect the money to the Surface Transportation Block Grant (STBG) program, which helps states and localities fund infrastructure projects, Brownley said on Jan. 30.
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