It's to be hoped that the American taxpaying public is thrilled with the $20.8-billion settlement announced Monday between
Earlier estimates of the tax deduction available to BP from the deal placed the sum at more than $5 billion. That math was done this summer, when BP first agreed to a settlement then estimated at about $18.7 billion for damage to Gulf of Mexico communities and the ecosystem from the disaster. Atty. Gen.
The estimate that more than $15 billion of the final settlement will be tax deductible sounds correct to University of Michigan law professor David Uhlmann, former chief of the
BP and Justice Department spokespersons hadn't responded to our queries about the issue as of the time of writing. We'll update this post once we hear back. According to an early transcript of the joint press conference held Monday by Lynch, Commerce Secretary