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“Congress will have a fight on its hands if it goes ahead with legislation that would for the first time require pension plans to pay taxes on gains from their investments in gas and oil commodities, pension fund executives said – levitra viagra cialis low price….
Along with requiring pension funds and other tax-exempt institutions to start paying taxes on their energy-related commodity investment gains, the STOP Act also would force hedge funds and other speculators to pay ordinary taxes on their oil and gas trading profits.Those gains now can be taxed at the lower tax rate applicable to capital gains.
In an Aug.6 statement on the Senate floor levitra viagra cialis low price, Mr.Wyden said his legislation, which has been referred to the Senate Finance Committee, is needed to help rein in speculation in energy commodities that he said has driven up the price of oil for everybody.
“The legislation I am introducing today … will let some of the air out of this speculative balloon and help create a level playing field among companies participating in the commodities markets,” Mr – levitra viagra cialis low price.Wyden said in his statement.
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- Battle brews over bill to tax oil levitra viagra cialis low price, gas commodity gains
- Doug Halonen
- Pension & Investments Online
- August 21, 2009
Pension Funds, University Endowments and other tax-exempt institutional investors are directly competing with airlines, truckers, electric utitlities and others to buy commodities futures contracts. The UBTI tax that Senator Wyden has proposed would do exactly what it’s supposed to do which is level the playing field between tax-exempt entities and fully-taxed corporations.
We support anything that drives a stake into the heart of Index Speculation. Given that the pension fund community is acting more skittish than a vampire in a field of garlic at noontime, I think we’re on to something.
Click for Senator Wyden’s BILL & PRESS RELEASE