Senate Democrats

After Speaker Boehner Agrees It’s Time For Big Oil Companies To ‘Pay Their Fair Share,’ Will Senate GOP Continue To Filibuster Against Repeal Of Wasteful Oil Subsidies?

In Interview Monday, Speaker Breaks From GOP Senate Leaders, Says Open To Ending Certain Tax Breaks for Big Oil

SPEAKER JOHN BOEHNER: Right. Listen, they’re gonna pay their fair share in taxes and they should… We’re in a time when– when the federal government is short on revenues. We need to control spending but we need to have revenues to keep the government movin’. And they oughta be payin’ their fair share

JONATHAN KARL: Well, the President’s proposed doing away with eight– eight different subsidies. This would be about $4 billion a year. You– you think that’s worth doin’?

SPEAKER JOHN BOEHNER: I think we gotta take a look at it.  [ABC News, 4/25/11]

Yet Senate Republican Leaders Have Opposed Repealing Oil and Gas Tax Breaks:

McConnell Called Repeal of Big Oil Company Tax Breaks “Mini-Van Tax.” McConnell said in a floor statement,  “At a time when increasing gas prices are already threatening our economic recovery a minivan tax that some on the other side have proposed won’t solve our nation’s fiscal crisis.”  [McConnell Floor Statement, 3/9/11]

·         McConnell Against Ending Subsidies For Oil Companies, Falsely Claims As A Tax Increase. In a statement McConnell says: “President Obama has proposed raising energy taxes of up to $90 billion over the next 10 years—most of which would be passed on to the consumer in the form of higher gas and electricity prices. The taxes could also slow down domestic oil production, enough to put up to 165,000 jobs in jeopardy over the next 10 years…Republicans have proposed two simple ideas that would provide real relief at the pump. First, we should seriously reform the rules and regulations holding America back from increased domestic energy production. And second, we should block any new regulations that would drive up the costs of energy production.” [Press Release, 4/22/11]

Cornyn In Favor Of Giving Billions In Subsidies To Oil Companies. Business Week reported that Cornyn, “Opposes the President’s efforts to repeal oil- and gas-industry tax breaks.” [Business Week, 4/07/11]

·         John Cornyn Claims Tax Hikes on Big Oil Will Result in Higher Prices Felt at Pump. Senator JOHN CORNYN (Republican, Texas): It may be fashionable to beat up on Big Oil and say, let’s tax the oil companies because they’re making too much money. But you know what, if we raise taxes on the oil companies, we all end up paying an increased price of gasoline at the pump. [NPR, 4/16/08]