McConnell laughs off Dems' political strategy over 'Big Oil' bill

Senate Minority Leader Mitch McConnell (R-Ky.) scoffed at Senate Democrats' pending legislation to raise taxes on the nation's largest energy producers on Thursday, saying their political strategy to score points off the bill had backfired.

“Somehow they thought that doing this would set up some kind of a political win for them, which I, frankly never really understood," said McConnell, laughing audibly from the Senate floor. "I mean, I can’t imagine anybody giving them any high-fives for not lowering the price of gas. But anyway, that was the plan."

The legislation of which the minority leader was speaking would levy $24 billion of taxes on the five largest oil producers over the next decade. Senate Majority Leader Harry Reid (D-Nev.) brought the bill up for a vote on Monday, expecting Republicans to summarily dismiss it. McConnell, however, surprised Democrats by urging his members to vote to bring the bill to the floor for a fight, and it cleared by an overwhelming majority. 

Reid tried to leave the legislation behind on Tuesday in order to move to the bipartisan postal reform legislation, but Republicans once again voted to stay on the "Big Oil" bill and continue to assail Democrats for the plan which they say would lead to higher, not lower, gas prices.  

“None of this makes much sense to me, but that’s how the Democrats have chosen to run the place," said McConnell.

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