On Monday, House Speaker John Boehner said Congress should “take a look” at the multibillion-dollar subsidies to oil companies.
“It's certainly something we should be looking at,” Boehner said in an ABC News interview. “We're in a time when the federal government's short on revenues. They ought to be paying their fair share.”
U.S. President Barack Obama sent a letter to congressional leaders on Tuesday urging them to follow up on his repeated calls to scrap $4 billion in subsidies to the oil and gas industry.
Republicans long have argued that killing the tax breaks ultimately would increase, not lower, retail gasoline prices.”
Are the Republicans out of their freakin minds? Raising taxes on corporations! Ya that's what we need.
We need to send these guys one last communication.
Start applying conservative principles, conservative policy, and speaking the truth to the American people or we will PRIMARY EVERY DAMN ONE OF YOU!!
“...as part of an overall corporate tax reform, tax loopholes and deductions for all corporations should be scaled back or eliminated entirely. That obviously includes oil companies.”
The important words there are: “as part of an overall corporate tax reform.”
The oil companies are on board with this, and there is no need to get all exercised about it unless the current deductions are disallowed and tax reform does not get passed. I’m confident they have taken care of that possibility.
The best solution would be to eliminate corporate taxes, but that’s not politically feasible in this environment. Baby steps, baby steps.