Did Congress understand what it was doing? Allegedly, the tax break to reap benefits that had been carried forward was supposed to help “the little guy.” But bigger oil companies (that have experienced huge losses) can now receive huge tax benefits. Diamond Offshore Drilling, Inc. is going through bankruptcy. It received a $9.7 million refund under the new provision and immediately asked the bankruptcy judge for permission to give $9.7 million to 9 executives.
Charlie Cooper
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