Boehner Pays Lip Service to Cutting Government Oil Subsidies
With gas prices still rising, House Speaker John Boehner has broken from traditional GOP rhetoric to voice his support for ending tax breaks to the oil industry.
With gas prices still rising, House Speaker John Boehner has broken from traditional GOP rhetoric to voice his support for ending tax breaks to the oil industry.
President Obama has championed the same cause since taking office, asking Congress to eliminate $3.6 billion in annual subsidies to the oil, coal and natural gas industries while energy titans such as BP and Shell enjoy record profits. Leaders from both parties are concerned about the impact that long-term gasoline price hikes will have on voters’ minds. — KDG
Wait, before you go…Reuters:
A New York Times-CBS News poll found that 70 percent of Americans believe the country is on the wrong track and analysts believe gas prices are a main reason for this.
The Obama administration tried unsuccessfully during the last Congress to cut tax breaks and subsidies for fossil fuels.
The attempt to end the subsidies has been strongly condemned by oil and gas companies, which argue that abolishing the tax breaks would reduce domestic drilling, cost jobs and increase U.S. reliance on foreign energy suppliers.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
There are currently no responses to this article.
Be the first to respond.