23 Feb '12, 8pm

Nice! Obama calls Big Oil taxbreaks "Outrageous" and "Inexcusable":

Nice! Obama calls Big Oil taxbreaks "Outrageous" and "Inexcusable":

In a speech at the University of Miami today, President Obama went after the billions in taxpayer handouts that the fossil fuel industry receives each year. Here's the news from The Hill : The president again took aim at a slew of tax breaks for oil and natural-gas companies, bashing Republicans and oil-state Democrats for opposing bills to eliminate them. “It’s outrageous. It’s inexcusable,” Obama said. “And every politician who’s been fighting to keep these subsidies in place should explain to the American people why the oil industry needs more of their money. Especially at a time like this.” The president outlined a plan to cut $39 billion worth of tax breaks during the next decade in his fiscal 2013 budget request. The president echoed the plan in a tax reform framework unveiled by the Treasury Department Wednesday. In 2012, we're going after the massive subsidies the ...

Full article: http://www.350.org/en/about/blogs/pres-obama-calls-taxbre...

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Obama calls to end subsidies for oil and gas

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