RENEE MONTAGNE, Host: NPR's business news starts with BP's hit to U.S. taxpayers.</s>RENEE MONTAGNE, Host: BP has announced its quarterly financial results. Its dismal earnings report includes a $32 billion pre-tax charge for costs related to the oil spill. But BP said it plans to offset that cost against its tax bill, according to Reuters, meaning that the company will pay $10 billion less in taxes to the U.S. government. That may not sit well with the public. A few years ago, Boeing tried to write off the cost of a government settlement, but backed down after pressure from lawmakers.
BP says that its costs from the oil spill will come out of taxes it pays to the government. BP announced Monday its quarterly financial results and said costs of the spill came to about $32 billion. But about $10 billion of that will be deducted from its tax bill.