Senator Baucus was easily the most hated Democrat on this blog during the healthcare reform debate in 2009. But this story should help to recover his image following his infamous refusal to include a public option provision in the Finance Committee version of what became the Affordable Care Act.
Sen. Max Baucus announced a plan Thursday that would end tax breaks for the five largest oil companies. This would include the domestic manufacturing deduction established in 2004 and a reduction in the tax credit for royalties oil companies pay to foreign governments. An excise tax would also be levied on some leases in the Gulf of Mexico. Revenue captured by the plan would be spent on promoting development of cleaner fuel as well as incentives for buyers of efficient vehicles and builders of infrastructure, such as alternative energy fueling stations.