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Linn Energy, LLC (LINE) Message Board

  • bluedreamdreamer bluedreamdreamer Apr 10, 2013 9:31 AM Flag

    obama budget proposal to limit energy tax breaks

    in addition to ending the tax break for hedge fund "carried interest" and for limiting exemptions of households with 1 m in income, Obama's latest budget to be released in full later today will limit energy tax breaks, I'll be looking for anything affecting MLP's. Given the divided nature of government his proposal has no chance to pass but some of the ideas may emerge in a compromise (GLTA) measure. Could lead to some pressure on the energy space, especially if the "sell in May" mantra gets louder during the imminent earnings season, thus buying opportunities

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    • do you have anything specific ? if not then maybe wait till there is something specific instead of fear mongering.

      • 1 Reply to purplespyderman
      • I regret if you are living in fear, purple, and brought it up in case anyone hears details, which I am interested in

        I read Obama's budget and it proposes, among many energy related topics, to eliminate $4 B/yr in subsidies to oil, coal, and gas producers but does not provide details- sounds like he's thinking of the biggest producers. He's all for promoting renewable energy and alternative fuels and the vehicles that use them. No mention of MLP's specifically so - like I originally said- I doubt MLP's to be targeted

    • Didn't the Senate vote down a previous Obama budget by something like 97-0?

      • 1 Reply to counselor711322
      • the obama budget proposal also includes limiting future increases in SS so there is something for both sides to hate, increasing the likelihood of compromise. The republican leadership has shown increased willingness to compromise as well- look at their acceptance of the tax increase in december, today's announcement of bipartisan support for gun purchase background checks (well at least in the senate), and republican backing of some immigration reform (which they had refused to do until their leaders acknowledged they needed to adjust to the fact that latinos are the fastest growing voting demographic in the US). And the tea party lost power in the last election, so their strident refusal to compromise on anything is now a weaker voice in the house.

        So I'll be curious if the obama budget includes language addressing tax breaks for MLP's (I'm not expecting this given MLP's still a small piece of the very large energy space and the US still a ways off from energy independence, which the MLP structure promotes) but who knows given the fast growth of the MLP sector and in light of tax-paying C-corp's being bought into MLP structure, such as with the LINE/BRY deal

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