Repeal of $2B in oil company tax breaks likely to fail in Senate, may live on in budget talks

[alp227]

Source: Associated Press

WASHINGTON — The Senate is taking up a bill Tuesday that would repeal about $2 billion a year in tax breaks for the five biggest oil companies, a Democratic response to $4-a-gallon gasoline that might fare better when Congress and the White House negotiate a deal later this year to increase the government’s ability to borrow.

The evening vote is expected to fail. But Democrats hope to build their case to include the measure in a deficit-reduction package being negotiated by key lawmakers and the Obama administration. Lawmakers from both parties are demanding deficit reduction as part of deal to increase the government’s ability to borrow and avoid an unprecedented default on U.S. Treasury bonds.

The oil companies are “doing just fine at every level of their business, and we’re giving them a taxpayer subsidy?” said Sen. Charles Schumer, D-N.Y. “This is a place to start.”

The heads of the five oil companies defended the tax breaks at a Senate hearing last week, saying they just want the same tax advantages enjoyed by other industries. The companies are Shell Oil Co., ExxonMobil, ConocoPhillips, BP America and Chevron Corp.

Read more: http://www.washingtonpost.com/business/repeal-of-2b-in-oil-company-tax-breaks-likely-to-fail-in-senate-may-live-on-in-budget-talks/2011/05/17/AFCtbn5G_story.html

[Drale]

1. Why don't they continue bringing it up for a vote?

At lease once a week, so we can get a big sample of the people who constantly vote no.

[sfwriter]

8. They should...

I don't get why we don't play a bit of politics when it is so obviously in the public interest.

[russspeakeasy]

12. Too many dems would be embarassed.

[fascisthunter]

2. pure evil

or sociopathic... take your pick

This at a time like now SHOWS what a disgrace these politicians are.

[DCBob]

3. unbelievable.

assholes.

[Uben]

4. This should not be a bargaining chip

They should repeal it now. How can they justify taking taxpayer money and giving it to one of the most profitable industries in the world? Folks, that is why our congress is broken. They are not doing the people's business, they are more interested in keeping the oil campaign donations flowing. Sorry-assed, dishonest, money-taking motherfuckers that they are! This is why I will never send a dime to ANY politician. They are already taking my money, without my consent, by continuing to give these oil barrons free billions.

[Andy823]

6. I agree.

It should be repealed now, but there won't be enough votes to do that. The only good thing is it gets the votes on record so the voters will know who voted for big oil, and who voted for helping the people who do the voting. If enough people get ticked off and start "DEMANDING" their member or congress stop this insanity, maybe, and I say maybe, they can stop the tax breaks and subsidies, and I can't for the live of me figure out why any teabaggers would be "FOR" keeping these insane tax breaks and subsidies! If any member of congress "REALLY" wants to reduce the deficit, this should be a no brainer vote to END these breaks for big oil! Of course if it's all talk, let the people who voted them in tell them how they feel about these breaks!

Sadly this is all about politics, and the odds of really getting these companies off the corporate welfare is not really very good! Of course if the people speak out, it might help! This should be one thing the vast majority of americans could agree on, and from looking at the polls I think they do, it's just that those who take the money from big oil aren't really listening to the people!

[Ilsa]

5. Then cut the rest of the subsidies too. nt

[Andy823]

7. I agree.

Farm subsidies is another one I would like to see done away with. I know there are farmers who do need help, but the current program is only helping big corporate farms, and rich republicans get huge handouts every year for doing NOTHING! It needs to stop!

[Iliyah]

9. Y'know

the gopers and some dems only purpose - to protect the rich, the corporations, oil companies, etc.

Eff the commoners, the rest of the American people.

[muriel_volestrangler]

10. Why is it expected to fail, with a a Dem majority in the Senate?

Are there Dems already openly against it?

[alp227]

11. two dems from oil-producing states, Begich (AK) and Landrieu (LA)

of course they gotta stand up for some of their most valuable constituents, the oil rig owners!

[concreteblue]

13. Primary.....

ANYBODY that votes against this gets primaried. ANYBODY!! And let them know that NOW!