With Painful, Job-Killing Cuts Expected Elsewhere in Budget, Big Oil Must Pay Fair Share
Washington, DC – Today, Rep. Earl Blumenauer (OR-03), a member of the House Budget and Ways and Means Committees, was joined by 45 House colleagues in sending a letter to Vice President Joe Biden urging him to include cuts to subsidies for Big Oil companies in any bipartisan agreement to reduce the deficit. The letter comes as critical programs that improve the lives of everyday Americans are cut while some in Congress continue to defend billions in wasteful subsidies for oil giants that are among the most profitable corporations in the world.
“It is simply inexcusable that we are cutting programs American families rely on while at the same time giving away billions in taxpayer handouts to giant oil companies,” said Blumenauer. “The vast majority of Americans support ending these subsidies, and even the oil companies are telling us that they do not need taxpayer support in order to bring affordable gas to consumers. Any rationale used to extend these handouts to oil companies is purely political.”
Blumenauer has introduced a bill in this session of Congress, H.R. 601, which would end nearly $8 billion a year in taxpayer subsidies to the largest oil companies.