Senate GOP allows bill repealing tax breaks for oil, with a catch
Republican-led opposition will almost certainly defeat the bill on final passage later this week.
In an unusual but calculated political move, Senate Republicans declined to block a Democratic bill that would repeal tax breaks for oil companies -- choosing instead to launch a floor debate on the legislation as a way to showcase the Keystone XL pipeline and other GOP proposals aimed at curbing sky-high gas prices.
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Since: May 11
#1 Mar 27, 2012
They really have the hots for the pipeline. You can't tell me that it's because they're worried about the price of gas or the American public or jobs. This pipeline is a way for a few politicians to line their pockets at the expense of the rest of us.
“Headed toward the cliff”
Since: Nov 07
Tawas City, Michigan
#2 Mar 27, 2012
Yep, the GOPasaurs just want to find another way to export more oil to China in order to enrich their oil baron buddies.
Notice how they refused to agree to a stipulation that would require all oil shipped through the proposed pipeline to remain in the U.S. Oh yeah, more oil for China is really going to bring down the price of gas here at home (....eyes rolling...).
#3 Mar 27, 2012
In the 2012 version of the Republican "Path to Prosperity" they state:
"The (tax) code is also patently unfair, as many of the deductions and preferences in the system – which serve to
narrow the tax base – are mainly used by a relatively small class of mostly higher-income individuals. Washington
should not be in the business of picking winners and losers.
Finally, the U.S. tax structure is highly inefficient, as tax considerations rather than economic fundamentals often
distort individual decisions to work, save, and invest, which leads to a misallocation of resources and slower
If they really beleived this they would do away with all "deductions and preferences in the system" with no conditions. They are still trying to give an economic prefrence to somebody ...
“It's a Brand New Day”
Since: Feb 06
#4 Mar 27, 2012
Big OIL oils the way.
Grease has many meanings.
Since: Jul 07
#5 Mar 27, 2012
gee, they are gonna take these billions and apply it towards algae and solyndra. why would anyone have a problem with that?
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