House Republicans voted yesterday to protect corporate welfare for big oil companies while cutting to the bone programs average Americans depend on. While the U.S. House of Representatives was working on a stopgap funding bill to avert a government shutdown, House Democrats offered a motion that would have taken away tax subsidies from the five largest oil companies, saving tens of billions of taxpayer dollars. The motion was defeated with every Republican voting against it.
Two weeks ago a similar vote that would have saved $53 billion in taxpayer funds, taking it away from the biggest oil companies, was also defeated basically along party lines.
The former CEO of Shell Oil, John Hoffmeister, recently said, "Big Oil doesn't need subsidies in the face of sustained high oil prices." (so why the vote to keep them alive)The largest oil companies, between 2005 and 2009, have made a combined 485 billion dollars in profits. That's almost half a Trillion dollars.
House Republicans said yes to keep the subsidies going to the big companies making huge profits.
Who wants to reduce the deficit? Who wants to save taxpayer dollars?
Think about that the next time you fill up your car. You're paying a lot more than just the price at the pump.