House Dems float bill to nix key oil tax credit

As The Hill’s Andrew Restuccia points out in a story today, Democrats are ramping up their calls for repealing oil industry tax breaks.

Here’s another sign: A bunch of House Democrats introduced a bill Tuesday that would prevent the major integrated oil companies (think Exxon, Shell and so forth) from claiming the Section 199 manufacturing deduction.

From the Congressional Record:

By Mr. BISHOP of New York (for himself, Mr. FILNER, Ms. SCHWARTZ, Ms. LEE of California, Ms. HIRONO, Mrs. MALONEY, Mr. ENGEL, Mr. CARNEY, Mr. MCGOVERN, Mr. ROTHMAN of New Jersey, Ms. MOORE, Ms. LINDA T. SÁNCHEZ of California, Mr. ACKERMAN, Mr. DEUTCH, Mr. BLUMENAUER, Mr. JACKSON of Illinois, Mr. RUSH, Mr. YARMUTH, Mr. VAN HOLLEN, Mr. HOLT, Ms. CASTOR of Florida, Mr. JOHNSON of Georgia, Mr. CARNAHAN, Mr. HINCHEY, Mr. WELCH, Mr. KILDEE, Mr. TONKO, Mr. FARR, Ms. HANABUSA, Mr. QUIGLEY, Mr. CICILLINE, Mrs. LOWEY, Mr. KEATING, Mr. CONYERS, Mr. NADLER, Ms. KAPTUR, Ms. NORTON, Mr. BRADY of Pennsylvania, Mrs. CAPPS, Ms. BASS of California, Ms. MCCOLLUM, Mr. BRALEY of Iowa, Mr. MEEKS, Ms. SLAUGHTER, Mr. GEORGE MILLER of California, Mr. GRIJALVA, Mr. ISRAEL, Ms. ROYBAL-ALLARD, Mr. ANDREWS, Mr. HIGGINS, Ms. SUTTON, and Mr. SERRANO): 

H.R. 1689. A bill to amend the Internal Revenue Code of 1986 to disallow the deduction for income attributable to domestic production activities with respect to oil and gas activities of major integrated oil companies; to the Committee on Ways and Means.