WASHINGTON — The climate and tax spending deal announced last week by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin could cost billions in new taxes.
The legislation, which may get a Senate vote as soon as this week, would reinstate and increase a long-lapsed tax on crude and imported petroleum products to 16.4 cents per barrel, according to a summary of the plan released Sunday by the Senate’s tax-writing committee.
The fee would be paid by U.S. refineries receiving crude oil and importers of petroleum products, according to the Congressional Research Service, which said proponents of the taxes believe they reflect a “polluter pays” mentality.
