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Senate Democrats push to end tax breaks for big oil companies to cut deficitQuicklink Submitted By Sheila Samples No comments
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| Senate Democrats announced a plan Tuesday to eliminate federal tax breaks to the five biggest oil companies and use those savings, estimated at $21 billion over the next 10 years, to help cut the deficit. Facing pressure from cash-strapped voters to do something about surging gas prices, Democrats want to put a spotlight on highly profitable oil companies and to cut off taxpayer subsidies to the firms. |
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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.
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