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Rep. Palazzo bill would ease tax burden of people receiving BP damage awards

by Pete Kasperowicz - 09/01/11 7:54 PM ET
by Pete Kasperowicz - 09/01/11 7:54 PM ET

Of the $501 million BP said it paid out to Mississippi after the spill, $266 million went to individuals and companies through a damage claim process the company set up after the spill.

Palazzo added that similar tax changes have been made before to help damage award recipients, such as those receiving payments related to the 1989 Exxon Valdez oil spill.

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