Top Dems call on House GOP to eliminate oil industry tax breaks

[ProSense]

Source: The Hill

Top Senate Democrats are calling on House Republicans to agree to a plan to eliminate oil industry tax breaks as a means of reducing the deficit.

The proposal comes as House Republicans have pledged to cut federal spending by billions of dollars in an upcoming government funding measure that must be approved by Congress by early March.

<...>

In a Tuesday letter to Boehner, Senate Majority Leader Harry Reid (D-Nev.) and other senior Democrats call on Republicans to consider the proposal.

“We are concerned that some of the cuts you may propose could undermine future growth just as our economy is beginning to recover,” the letter says. “Instead, we urge you to consider ending a number of tax loopholes and other subsidies that benefit big oil and gas companies. Closing these loopholes would save the federal government more than $20 billion over 10 years.”




Read more: http://thehill.com/blogs/e2-wire/677-e2-wire/142747-top-dems-call-on-gop-to-eliminate-oil-industry-tax-breaks

[golddigger]

1. To bad they didn't consider this when they were in power.

[Ken Burch]

2. And the reason the SAME "Top Dems" didn't at least pass such a bill out of the House themselves

when WE had a majority was...?

[libmom74]

5. because

we didn't have a super super super majority and that is the only way that Democrats can do things that their base wants?

[apnu]

8. Yeah this annoyed me too.

I would have been better they tried and failed than to not have tried at all. I'm positive that had Dem leadership stuck to their guns and values in the Health Care debate, we would have not only gotten a good bill (instead of the POS we have now) and would have won the last election cycle handily.

But because of Democratic hand-wringing and "compromises" with the GOP, we looked weak, foolish and clueless, and it cost us. I always thought Reid, Pelosi and Rahm won in 2006 not because of something they did (it was Dean building an awesome ground game that put it over the top), but because of how bad the GOP was and how revolted the nation was in Chimpy's antics once the lights went on in the bar.

[libmom74]

18. totally agree and then they kicked Dean to the curb

[ShockediSay]

9. Maybe because this was a blade of grass in a haystack of an agenda nt

[karynnj]

14. I think they intended to use them as offsets in a clean energy bill,

but they never were able to pass one in the Senate. That made sense as the Republicans were insisting that every major bill be at least deficit neutral. Any clean energy bill needed something taht could be used to fund the costs.

[No Elephants]

19. On what do you base your thought about the intent of Dems in Congress?

Can't help but wonder.

[Wait Wut]

3. The responses from the right will be entertaining.

1. "If we cut out their loopholes, gas prices will skyrocket!" (Different from now?)
2. "If we ... they won't hire more unemployed real Americans!" (Different from how?)
3. "If we ... they won't give us presents anymore...uh...I mean...uh...I have to take this call." (Different from...)

Yay!

[gratuitous]

4. Hammer time

In addition to jobs, every Democrat in the House should be prodding the Republican majority about winding down tax breaks for oil companies. As the President said in the State of the Union address, Big Oil seems to be doing okay, and maybe doesn't need taxpayer assistance to turn a profit. Let the Republicans make the case for this continuing corporate welfare.

[ShockediSay]

10. Well Stated ! nt

[Thav]

11. Not just a profit...

but INSANE profits. I mean, in the time it took me to type this, the oil industry profited $10 million. I can't even fathom that level of revenue, let alone PROFIT! It's time to end those kickbacks and put them to work fixing/building infrastructure.

[golddigger]

6. Its all one big freakin game being played in Washington

and I for one is freakin tired of it.

[grahamhgreen]

7. Good. Now get it done.

[JohnWxy]

12. fantastic. Great Idea. Use extra revenues to pay for green initiatives. Of course Corp Lobbyists

won't agree to it. Can't help investments in new and growing technologies which lead to greater job creation HERE IN OUR OWN COUNTRY!

recommended.

[JohnWxy]

13. suggestion: DUers go to THe Hill and submit your comment. You don't have to set up an account with a

password and all that crap. Just enter email and screen name and type in your comment.

We need to do more than just Preach to the Choir.

[No Elephants]

20. Self delete

[MasonJar]

15. At least this puts the pressure on the House GOPers to put up or shut up.

Not that they ever will.

[TatonkaJames]

16. $2 Billion a year

Doesn't put a dent in it. Just a show, they're both playing the game with voters.

[rasputin1952]

17. This is a 3rd rail for them...

They'll never go near this.

1. a major source of funding dries up.

2. R's are clueless when it comes to doing something that might help the country

3. R's see oil subsidies and tax loopholes as "entitlements" for doing business

4. the fiscal backlash as their funds dried up would devastate them. Not just from the oil companies, most sources would simply evaporate, once done, other corp's would realize that the "baskets of cash" didn't do any good. With the GOP on the financial ropes now, this would destroy them completely.

The destruction of the GOP would be a good thing, but the Teabaggers are in the wings waiting to demand voices with more power and influence...:(