The House passed an $18 billion dollar tax bill on the oil companies.
The money collected over 10 years would provide tax breaks for wind, solar and other alternative energy sources and for energy conservation. The legislation, approved 236-182, would cost the five largest oil companies an average of $1.8 billion a year over that period, according to an analysis by the House Ways and Means Committee. Those companies earned $123 billion last year.
Except, no where does this discuss the billions of dollars that the oil companies are not paying the US government for oil leases. Just saying, as the oil companies rake in billions of dollars (Shell, Exxon, for instance).
Republicans said the measure unfairly targeted a single industry.
“It punishes the oil and gas industry. This is wrongheaded. It will result in higher prices at the gasoline pump. It’s spiteful and wrong,” said Rep. Jim McCrery, R-Louisiana.
McCrery, the top Republican on the Ways and Means Committee, which developed the tax proposals, cited statistics that show oil companies already pay more taxes than many other industries.
I’d say that the oil companies NOT paying for right to drill on federal land contradicts rethuglican McCrery’s assertion.
Please don’t fall for the big-oil lie that they are committed to finding renewable energy because it is simply not true.
As I see it, the dems in the House are taxing the oil companies that are continually fleecing each and every person that resides in the US as well as the US Treasury. Now it’s time for the Senate to step up and do the responsible thing and pass the same bill.
