Amid rising gas prices, Obama to call for vote on killing oil tax breaks [View all]
Source: The Hill
President Barack Obama intends to press lawmakers Thursday to quickly strip billions of dollars in oil industry tax breaks, remarks that will come during his second energy-themed speech in two weeks aimed at blunting GOP attacks over gasoline prices.
Obama will speak Thursday afternoon at Nashua Community College in the swing state of New Hampshire.
“In Nashua, the President will . . . reiterate his call to repeal the unwarranted $4 billion in annual subsides handed out to oil and gas companies, and will urge Congress to take a vote on the repeal in the coming weeks,” a White House official said ahead of Obama’s remarks.
(snip)
“We plan to show that when (gasoline) is approaching $4 per gallon, oil companies don’t need the extra help from taxpayer subsidies,” the aide told The Hill. “As a matter of fairness, Republicans should not be continuing to defend this loophole.”
Read more: http://thehill.com/blogs/e2-wire/e2-wire/213527-obama-to-demand-capitol-hill-vote-on-killing-oil-tax-breaks
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