Anti-oil company sentiment, voted symbolically yesterday to deny the petroleum industry some $1.2 billion in tax breads that it currently receives in foreign tax credits.
The action, which came on an over-whelming 355-66 vote, merely altered the tax-receipt targets in the House version of the fiscal 1980 congressional budget resolution, and did not actually repeal the present law.
Nevertheless, the vote was a clear indication that sentiment against the oil companies is running high in the House in the midst of the current price increases and may well have an impact on other legislation.
The vote come as the House Ways and Means Committee prepared to begin hearings this afternoon on President Carter's "windfall profits" tax proposal, amid indications that the panel may stiffen the mild tax Carter recommended.
Immidiately after the House vote yesterday, Reps. Charles A. Vanik (D-Ohio) and Richard Gephardt (D-Mo.), both members of the Ways and Means Committee, called for broadening the panel's action to consider all oil-company tax breaks.
Rep. A1 Ullman (D-Ore.), chairman of the Ways and Means Committee, has indicated the panel will consider only Carter's "windfall profits" tax proposal in its current round of hearings and then move on to related legislation.
But Vanik and Gephardt wrote Ullman yesterday urging him to expand the initial hearings to include "the full extent" of oil-company tax breaks, from foreign tax credits to the depletion allowance. Ullman offered no reply yesterday.
Although no formal move has been announced, many panel members have said they will vote to toughen the Carter package, which would raise between $500 million and $1.7 billion a year in new revenues.