http://www.rigzone.com/news/article.asp?a_id=51833Sen. Kay Bailey Hutchison (R-Texas) yesterday took the credit for standing in the way of a formal House-Senate conference to reconcile competing energy bills.
In an interview with reporters, Hutchison said she opposes the repeal of billions of dollars in tax breaks for oil and gas companies and has blocked an effort to move to conference.
"I am very concerned about pieces of the legislation, and I am holding it up right now," Hutchison said in the Capitol late yesterday, citing "egregious" tax provisions in the House effort.
The House bill would repeal eligibility among oil producers and refiners for a tax deduction on income from domestic products, a provision that would raise an estimated $11.4 billion over 10 years.
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