13 Aug '12, 6am

Paul Ryan’s budget plan is very nice to Big Oil

Paul Ryan’s budget plan is very nice to Big Oil

Big up for Big Oil! (Photo by monkeyz_uncle ) Mitt Romney has turbo-charged his support for Big Oil by selecting Paul Ryan as his running mate . The House-passed Ryan budget would retain $40 billion in tax breaks over a decade for Big Oil while demanding huge cuts in the budget for innovation and clean energy. In addition, the Romney-Ryan budget would provide $2.3 billion in new tax breaks for the five largest oil companies. Here’s a reprint of a 2011 post that ran after Ryan first introduced his radical plan. House Budget Committee Chair Paul Ryan’s (R-Wis.) proposed fiscal year 2012 budget resolution [PDF] is a backward-looking plan that would benefit Big Oil companies at the expense of middle-class Americans. It retains $40 billion in Big Oil tax loopholes while completely eliminating investments in the clean energy technologies of the future that are essential for long...

Full article: http://grist.org/politics/paul-ryans-budget-plan-is-very-...

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