Senate To Vote On Oil Drilling Tax Cut Bill - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Senate To Vote On Oil Drilling Tax Cut Bill

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(WLNS) - A package of bills to cut state taxes for a specific method of oil and gas drilling is now headed to the state senate.

The house voted last week to lower the severance tax for Carbon Dioxide related projects. The technique involves using CO2 to pull oil from the bottom of wells that cannnot otherwise be retrieved.

Supporters say the legislation would boost the states economy and reduce the release of Carbon Dioxide into the air.

Critics argue that tax breaks should not be given to the oil industry because expanding drilling will hurt the environment.

The legislation does not involve the controversial drilling method known as fracking.

 

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