Obama Proposes $41B in Oil/Gas Subsidy Cuts to Help Fund Jobs Package

[wtmusic]

"Just when it seemed like the debate about repealing oil and gas subsidies had faded away, President Obama gave the issue new life. Speaking at the White House yesterday, Obama proposed cutting certain tax credits to profitable oil and gas companies to pay for part of his $467 billion job-creation package.

“The bottom line is, when it comes to strengthening the economy and balancing our books, we’ve got to decide what our priorities are,” he said, speaking in the White House Rose Garden. “Do we keep tax loopholes for oil companies, or do we put teachers back to work?”

The president seems to have support from the American public. In a Washington Post/ABC News poll conducted this July, 59% of Americans said they supported repealing permanent tax breaks for fossil fuel companies to reduce the deficit. While the funds would be used for a jobs plan rather than deficit reduction, the President and Democratic members of Congress are hoping to ride that support."

http://thinkprogress.org/romm/2011/09/13/318266/fund-jobs-package-obama-proposes-cutting-oil-and-gas-subsidies/

[aSpeckofDust]

1. He can propose we all get ponies and unicorns, doesn't mean it'll get through the house/senate.

[wtmusic]

2. Read the article.

The president seems to have support from the American public. In a Washington Post/ABC News poll conducted this July, 59% of Americans said they supported repealing permanent tax breaks for fossil fuel companies to reduce the deficit. While the funds would be used for a jobs plan rather than deficit reduction, the President and Democratic members of Congress are hoping to ride that support.

In an interview with Climate Progress last month, Senate Majority Leader Harry Reid said he was bullish on the oil and gas subsidy issue. Even while expressing doubts about getting support for extending clean energy incentives, Reid said he believed it is possible to roll back certain permanent tax credits in the fossil energy sector:

“That is one thing that I think we have a shot at doing,” Reid told Climate Progress.

[aSpeckofDust]

3. The president also had public support on the public option, taxing the rich, and alternative energy.

Those turned out so well.

[wtmusic]

4. True.

Here's to hoping the new & improved hair-on-fire Obama will take a stand on something.

[defendandprotect]

5. NATIONALIZE oil industry - coal industry -- Public would back that 100% -- !!

[bvar22]

6. I applaud this New Populist Obama!

Where has he been for 3 years?
.
.
.
.
Oh yeah.
Its Campaign Season again.
I remember this guy from 2008.



http://www.thedailyshow.com/watch/mon-september-12-2011/transformer---campaign-based-economy


You will know them by their WORKS,
not by their excuses.

Solidarity!
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