Oil Spill Protection Act [Lazily Law'd]

[Fmr President & Senator Polnut]

We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.

I think a specifically lower rate would be a potential administrative nightmare... perhaps a tax credit would be better.

[Fmr President & Senator Polnut]

We should give incentive to companies that improve their environmental record year to year , maybe by offering a lower tax rate for better performance.

I think a specifically lower rate would be a potential administrative nightmare... perhaps a tax credit would be better.

Yeah, this. I'm in favor of lower taxation for all businesses, but I could be persuaded to support tax credits for more "responsible" companies.

This bill raises taxes.


I have an aversion to the phrase "tax credit", rightwing connotations, but it could work for sure.

Lol, alright call it an earned corporate tax deduction?

[Fmr President & Senator Polnut]

I'd be supportive of an earned corporate tax reduction, but I don't think I would like to see it by too much, since we're already only taxing profits above a level that most people and companies would consider exorbitant anyway. Something like reducing it to 4% or 3.5% would I think be good.

What about reducing the profits tax that goes into the oil fund once it reaches a certain point? Once the Oil Spill Protection Fund reaches two billion, or something, we could cut the tax in half.

I initially forwarded the idea to try and get companies to self-regulate, so that the fund can be used when most needed. Im open to discussing the merits of capping it though.

Yes, I'm not sure it's a great idea to treat this as a one-off thing. The purpose of this should be to foster appropriate and responsible business practices and ethics in the energy industry. It's not as if there's a dearth of things in the energy/environmental realm to use new revenue sources for, anyway.

Completely agree with this.

[Fmr President & Senator Polnut]

Well, is that interpretation an accurate and fair representation of the sentiments expressed on this measure by the humble and honerable servants and dilligent representatives of their respective constituencies, Senators Nathan and Polnut (listed here by senority of course).

My my, nothing catty in that at all.

What it comes down to for me, is that businesses are provided both incentives for ecologically sound behaviour, as well as disincentives for practices that are damaging.

I support Senator Marokai's position on reducing the overall tax once it reaches are particular point. The problem then becomes, who do we know when an appropriate amount has been raised, assuming we go down that route.

However, a tax-only strategy doesn't exactly promote ecologically sound practices, I'm not 100% on the best way to incentivise the process... hence why I've been a little quieter on this issue-

[Fmr President & Senator Polnut]

Aye