Boehner open to repealing oil company tax breaks

[Viva_La_Revolution]

Source: AP

House Speaker John Boehner said Monday that Congress should "take a look at" repealing the multibillion-dollar tax subsidies enjoyed by the major oil companies.

The Ohio Republican told "ABC World News" that the government is low on revenues and that oil companies "ought to be paying their fair share." A gallon of gasoline exceeds $4 in some parts of the country.

"We certainly ought to take a look at it," Boehner said. "We're at a time when the federal government's short on revenues. We need to control spending but we need to have revenues to keep the government moving."

For example, Boehner said big oil companies don't need the so-called oil depletion allowance, but that taking it away from smaller producers would mean even less domestically produced oil. The allowance allows producers a tax deduction comparable to the break given manufacturers for depreciation of the value of an investment in plants and equipment.

Read more: http://hosted.ap.org/dynamic/stories/U/US_BOEHNER_BIG_OIL_TAX_BREAKS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-04-25-19-49-04

[CaliforniaPeggy]

1. *Faint*

[fatbuckel]

11. Bullshit. He just voted against it.

[Thegonagle]

17. There's always a catch with these republicans, isn't there? nt

[Jackpine Radical]

2. Given the current outrageous oil co. profits, even the little guys

could probly make it without the depletion allowance. 'Course their CEOs might have to go on food stamps or something.

[Earth_First]

3. In exchage for what, exactly?

This shit doesn't come free...

:shrug:

[Autumn]

4. "We need to control spending but we need to have revenues

to keep the government moving." That actually came out of Boners mouth? :wow: Color me surprised.

[Javaman]

5. devil is in the details...

more puffery by a moron.

be aware of a wolf in sheeps clothing.

[Tess49]

6. When did hell freeze over?

[freshwest]

7. The world just jumped forward in time...

[Drale]

8. Boy talking about not raising the debt ceiling

about getting rid of oil subsidies. He's really trying to piss of his corporate masters.

[snappyturtle]

9. Color me dumbfounded. nt

[OhioChick]

10. What's the catch? n/t

[physioex]

13. He wants a bigger payoff from the lobbists?

[MiniMe]

15. He is going to blame the dems for the high gas prices

And blame it on the oil companies losing their tax breaks

[Vinee]

12. good idea. end farm subsidies while you're at it.

[jsamuel]

14. he will still oppose it, but this shows we are winning over the public and they know it

[Kablooie]

16. Could the unmovable Republican blockade be showing a few cracks? Ya think?

[Kolesar]

18. "take a look at" ... the big campaign contribution checks he gets from Exxon and Transocean

:sarcasm:

[NeoConsSuck]

19. So transparent

He knows that right now, the oil companies are everyone's whipping boy, even among the right wing knuckle draggers.

You don't need a weatherman to tell which way the wind's blowing.

[Zorra]

20. Yeah, and the dog ate my homework. nt