NO. 32


Oil And The BTU Tax

The following is the text of a paper on "Oil and the BTU Tax: Still Timefor Re-design" prepared by the New York- based Petroleum Industry ResearchFoundation, Inc. (PIRINC) and published in April 1993.

I. Outline of the Tax

As part of the Administration's comprehensive economic plan, PresidentClinton proposed a "Modified BTU Tax." The major components outlinedinitially on 16 February 1993, and revised on 1 April 1993, include a 25.7/mnBTU tax on...