Sanders seeks extenders as vehicle to repeal tax breaks for big oil

Sen. Bernie Sanders (I-Vt.) on Wednesday introduced an amendment to the so-called tax extenders bill that would repeal $35 billion in tax breaks for oil and gas companies. He reasoned that rescinding these breaks would not only end a subsidy for a very profitable industry, but also help Congress reduce the deficit. 

"This amendment asks a very simple question: which side are you on?" he said when introducing the measure. "Are you on the side of the oil and gas companies that year, after year, after year have been making huge profits? Or are you on the side of reducing the deficit?"

Sanders's provision would use $25 billion of the revenue saved by repealing the tax breaks for deficit reduction. The remaining $10 billion would go toward promoting energy efficiency.  

A vote on the measure will likely occur next week.