Senate Democrats announced a proposal Tuesday to repeal $21 billion in tax incentives over 10 years for the five biggest oil and gas companies and use that money to reduce the deficit.
Dems plot to get $21B from Big Oil - Politico
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The plan goes after some of the same industry tax incentives that Democrats and President Barack Obama have been targeting for years. The message is also largely the same as when gas prices hit $4 per gallon three years ago: Taxpayers don’t need to foot the bill to help companies earning tens of billions of dollars in profits annually.India auto diesel tanks manufacturer
Democrats are able to point to big profits earned by the five companies — ExxonMobil, Shell, BP, ConocoPhillips and Chevron Texaco — during the first quarter of fiscal year 2011.Dems plot to get $21B from Big Oil - Politico
