Jill’s Take: Senate GOP votes to continue oil subsidies…really??
Jill says...How can anyone say they are serious about cutting the deficit when they continue to vote for oil subidies? Does the government really need to subsidize an industry that is doing SO well??
The bill would have cut $12 billion in subsidies for producing oil within the United States for Chevron, Shell Oil, BP America, ConocoPhillips, Exxon Mobile. Another $6 billion would come from eliminating credits for taxes that the oil companies pay to foreign governments, with the final $2 billion from blocking them from writing off certain drilling and development costs. READ MORE