House votes to repeal oil industry tax breaks

[Roon]

Breaking on http://www.msnbc.msn.com/

[xultar]

1. GO! NANCY GO! GO! GO! GO! GO! NANCY GO!

[Deja Q]

2. The oil industry does not need government assistance right now.

And freepers may think prices will go up because of it. No, they won't. Government gets its money from TAXPAYERS. You and I. We'd be paying the same in the end. It just seems like more because we don't really 'see' what happens to tax money.

Just like how McDonalds got half a mil for selling Chicken McNuggets in the country of Turkey. Ridicilous.

Small businesses need government assistance. Big ones don't. They helped get to be big because of consumers and government, but there comes a time when they have to live on their own two feet. (or so I keep hearing?)

[Greeby]

3. I can't see C-Span vote tallies on my little computer screen

But I think 4 Democrats voted against it, prepare to take names

[Digit]

4. If you click on the actual picture, it will enlarge it...somewhat

I had to do the same thing.

[jamesinca]

18. HR 6 Dems voting no

What I am finding: John Barrow GA 12, Dan Boren OK 2, Nick Lampson TX 22, and Jim Marshall GA 8.

[sarcasmo]

5. It's about time this is being done. Kick.

[jpak]

6. They done whacked a hornet's nest now

:thumbsup:

[eppur_se_muova]

7. Now on CNNMoney.com

http://money.cnn.com/2007/01/18/news/companies/house_oiltaxbreak/index.htm?cnn=yes

[ThomCat]

8. Good! Now investigate them for price gouging and fixing!

x(

[AtLiberty]

9. Does anyone know the vote break-down for this bill?

Names...I want names.

[geomon666]

10. Listening to the rethugs cry about it is sickening.

This puke pile Marsha Blackburn from Tennessee is a real dunce. She's saying we shouldn't hold Big Oil accountable for the taxes they haven't been paying because that money doesn't go to research for alternative fuel and it doesn't make gas cheaper.

Uh, who cares? If it goes to anything other than war and death and greed, it will still be a good thing. You fucking vampire.

[Ignacio Upton]

11. Prediction: Oil prices will go up again

And Dems will conveniently get blamed.

[Rose Siding]

12. Here's the McClatchy article -264 to 123

House rescinds tax breaks from Big Oil

WASHINGTON - The Democratic-controlled House of Representatives passed legislation Thursday that would roll back tax breaks from an oil industry that's enjoying record profits, recoup oil and gas royalty payments and create a fund to promote alternative fuels such as ethanol.


The legislation, called the Creating Long-Term Energy Alternatives for the Nation (CLEAN), fulfilled a Democratic campaign pledge to reach into the pockets of Big Oil within the first 100 hours of House business.


"Big Oil has had too much sway in the halls of Congress," said Rep. Kathy Castor, D-Fla. She argued that the new Democratic Congress "will plan for a more sustainable future."


The margin of the House vote - 264 to 123 - wasn't large enough to override a presidential veto. But President Bush hasn't threatened to veto the measure, and he's expected to tout alternative fuels in Tuesday's State of the Union address. The Senate is considering similar but less ambitious legislation.

http://www.realcities.com/mld/krwashington/16492169.htm

[Vidar]

13. Good first move. Next step jail them.

[spindrifter]

14. House Votes to Rescind Oil Drillers’ Tax Breaks NYT

By EDMUND L. ANDREWS
Published: January 19, 2007

WASHINGTON, Jan. 18 — House Democrats easily passed legislation on Thursday that would rescind $14 billion in tax breaks and subsidies for oil drillers and reserve the money to develop alternative energy projects and conservation technologies.

The measure passed 264 to 163, with many Republicans joining a bloc of Democrats. Passage came despite opposition from the oil industry and the Bush administration, which said the bill singled out the companies for higher taxes and could increase the country’s dependence on foreign oil.

The bill will rescind $7.6 billion in tax breaks for oil drillers that Congress passed in 2004 and 2005 and will add $6.3 billion in royalties from companies that pump oil and gas in publicly owned waters of the Gulf of Mexico and off Alaska.

One provision is intended to correct errors in drilling leases signed by the Interior Department in the late 1990s that allowed oil companies to escape billions of dollars in royalties over the next decade.

<more>

http://www.nytimes.com/2007/01/19/business/19royalty.html?hp&ex=1169182800&en=86861ac3673f5d61&ei=5094&partner=homepage

[Whoa_Nelly]

15. Sweet eom

[haymark]

16. Great!!

Those oil companies make too much money and we should get some of it back. So what if the oil companies decided to drill somewhere else in the world, they won't be polluting our beautiful country. Those American workers who will lose their jobs, not to worry, they can go to college on the cheap because the student loan rate has been cut in half.

[cpamomfromtexas]

17. Make it RETROACTIVE!!!!!!

[LiberalFighter]

19. Any way Congress could make the PR bad for Bush if he refuses to sign?

[Javaman]

20. Let the games begin!!

Now it's time to get out the popcorn and beer because this will make for some must see TV cspan watching fun over the next several weeks.

I can't wait to watch the crocodile tears the oil execs will be shedding over this.

The next step is to have them come before congress for a hearing, but unlike last time the will be under oath and ted, I have oil men in my pockets, stevens can shut up and go fuck himself side ways as the beans are spilled.

[ShortnFiery]

21. Yes! That's beautiful, now don't disappoint - Democratic Senate. n/t

[DiverDave]

22. Can you say "Veto"? sure you can

(With apologies to Mr. Rogers)

Do you really think the dimbulb would allow this to become law?


Not a chance in hell this flys past him, much less the Senate.