The oil giant BP has revealed it plans to seek a nearly $10 billion tax break to cover losses stemming from the Gulf of Mexico oil spill. In its second-quarter earnings report, BP said it would record $32 billion in losses to reflect the future costs of the spill. Under US tax law, companies can take credits on up to 35 percent of their losses. This essentially means US taxpayers will end up paying a third of BP’s expenses from the Gulf oil spill despite vows from the Obama administration that BP would bear the entire cost of cleaning up the spill. On Tuesday, White House Press Secretary Robert Gibbs would not say whether the President would press BP on the tax break. Gibbs said, “There are tax laws in this country that have been written for quite some time.”