12 May '11, 6pm

Americans to Big Oil: We’ve got your number

Americans to Big Oil: We’ve got your number

Americans eager to reduce the mammoth federal debt that threatens our economy's long-term prosperity overwhelmingly support ridding the tax code of these unnecessary subsidies. As Seth Hanlon, director of fiscal reform, and Michael Ettlinger, vice president for economic policy at the Center for American Progress, explain [PDF], tax breaks for oil companies and other superfluous "spending in the tax expenditure budget is fertile ground for deficit reduction." But on May 5, Republicans unanimously voted down a Democratic attempt to put forward legislation that would end subsidies to oil companies. Seven Democrats also opposed the measure.

Full article: http://www.grist.org/oil/2011-05-12-americans-to-big-oil-...

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Big Oil

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