With
US
gas
prices
climbing
toward
$4
a
gallon
($1.05
a
litre)
on
concern
over
Iran,
declining
US
refining
capacity
and
the
approach
of
the
high-demand
summer
driving
season,
the
Obama
administration
called
for
repeal
of
preferential
tax
treatment
for
oil
and
gas
companies,
among
dozens
of
other
subsidies
and
loopholes
in
the
corporate
tax
code,
while
reducing
the
top
corporate
tax
rate
from
35%
to
28%.
Manufacturers
would
see
tax
rates
dip
to
25%.
"The
effective
tax
rate
on
an
investment
in
buildings
or
other
structures
by
a
manufacturing
company
might…
