Dems, GOP Spar On Oil Drilling, Subsidies

As GOP readies bills that would expand offshore drilling, Dems push for vote on repealing tax breaks for oil companies.

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By CBS NEWS
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Democrats had previously planned to offer to a series of amendments to one of the GOP bills. But according to the Hill some feared the amendments, which would have both repealed the controversial tax breaks and effectively reversed the impact of the bill altogether, would not have made it past the Rules Committee, which is meeting on Wednesday afternoon. 

 

 

 

 

 

Senate Majority Leader Harry Reid has vowed to push for a Senate vote on a proposal that would eliminate the tax breaks for oil companies, although some have expressed doubts that Democrats have the 60 votes likely needed to pass it.

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Barbara said on Wednesday, May 4 at 2:57 PM

I say we pull all permits, have the Governments take control of the oil and we hire employees to do what they are doing right now. And we should all get Dividend checks to pay us for the product that belongs to us.

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barbara said on Wednesday, May 4 at 2:55 PM

for me this is all BS. They raise our rates at the pumps to show control of their product. Personally, that oil is coming from the earth that is called America, Mexico, etc. and for me, this means the products belong to the citizens. It's like bottling air and selling it. BS

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