Results 1 to 5 of 5
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
Threaded View
-
05-10-2011, 12:44 PM #1
Senate seek to slash subsidies for 'Big Oil'
Senate seek to slash subsidies for 'Big Oil'
By ANDREW TAYLOR, Associated Press
Tuesday, May 10, 2011 at 9:01 a.m.
WASHINGTON β Democrats running the Senate are seeking to take away tax breaks that pad the profits of the five biggest oil companies by $2 billion a year and use the money to attack the spiraling deficit.
The new legislation would cut off immensely profitable companies like Shell Oil and Exxon Mobil from subsidies like a deduction originally aimed at boosting manufacturing. The top five oil companies have booked profits of $36 billion in the first quarter of this year alone.
New Jersey Democrat Robert Menendez acknowledged that the legislation - slated for a vote next week - won't do anything about gas prices that now exceed $4 a gallon in many places.
Republicans are expected to filibuster the bill. They say the companies would raise prices if the measure became law.
http://www.signonsandiego.com/news/2011 ... r-big-oil/NO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
Migrants Breach Fortified Border Barrier, March Through Texas...
05-16-2024, 08:20 PM in illegal immigration News Stories & Reports