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House Democrats: Slash oil tax breaks as part of deficit deal
More than 100 House Democrats called on House Speaker John Boehner (R-Ohio) this week to eliminate billions in oil industry tax breaks as part of high-stakes talks to reduce the deficit.
“Americans by wide margins support raising taxes on millionaires and billionaires, ending subsidies for the oil and gas industry, and eliminating tax breaks for companies that ship American jobs overseas. We agree,” the 109 House Democrats said in a letter Monday.
“In order to address our deficit problems while protecting the economy, the middle class, and those who aspire to it, those options need to be on the table.”
The letter comes after 20 Senate Democrats late last month backed the plan to eliminate billions in oil tax breaks for the biggest oil companies as part of a deficit deal with Republicans.
For more on the letter from House Democrats, read this post from The Hill’s On The Money blog.
