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High energy costs a burden on businesses

The Gazette Opinion Staff

Mar. 22, 2011 4:35 pm

It is important for the present administration and Congress to realize that the record-high energy costs are becoming an extreme burden on typical Iowa businesses. I am in close contact with my insurance clients and I know the stress they are under.

Based on the present costs of fuel, it is surprising that the president would call for the “simplification” of the tax code. What he is actually proposing is to do away with part of the code that gives U.S. energy companies credit for foreign taxes they must pay. This practice results in double taxation on already burdened American energy companies and will increase the cost of energy at a time when our economy is struggling to get back on its feet.

Curtis Stewart

Anamosa

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