United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Resources, Community, and Economic Development Division author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 2000-09-25 monographic deposited born digital 25 p. GA 1.13:RCED-00-301R https://www.govinfo.gov/app/details/GAOREPORTS-RCED-00-301R P0b002ee1803751cf f:rc00301r DGPO 2010-08-12 2011-03-24 GAOREPORTS-RCED-00-301R machine generated eng fdlp REPORT GAOREPORTS-RCED-00-301R RCED-00-301R Petroleum products Fuel taxes Alcohol fuels Tax credit Subsidies Petroleum industry Correspondence RCED Pursuant to a congressional request, GAO provided information on the tax incentives that benefit the petroleum and ethanol industries.<p/>GAO noted that: (1) specific petroleum tax incentives range from about $330 million for the expensing of tertiary injectants to about $82 billion for certain cost depletion deductions; (2) some of the tax incentives for the petroleum industry have been in place for many decades, but over the past 25 years, these incentives have generally been scaled back; (3) ethanol fuel tax incentives ranged from $198 million for alcohol fuel tax credits to almost $11 billion for the excise tax exemption for alcohol fuels; (4) these tax incentives were instituted in 1979-1980; (5) in the past decade, these incentives have been extended, but the rates of exemption and credit have been reduced somewhat; (6) the estimated revenue losses for these tax incentives should not be added together; and (7) the estimate for each tax incentive is made independently of any other tax incentive, and the effect of making more than one change might be greater than or less than the sum of the changes. https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-00-301R/html/GAOREPORTS-RCED-00-301R.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-RCED-00-301R/pdf/GAOREPORTS-RCED-00-301R.pdf GAO/RCED-00-301R https://www.govinfo.gov/app/details/GAOREPORTS-RCED-00-301R Correspondence GAO/RCED-00-301R; Petroleum and Ethanol Fuels: Tax Incentives and Related; Petroleum products Fuel taxes Alcohol fuels Tax credit Subsidies Petroleum industry