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WASHINGTON (AP) — Senate Republicans on Thursday blocked a $32 billion package of tax breaks for renewable energy that would have been financed mostly by new taxes on major oil companies.
Democrats came three votes short of overcoming a threatened GOP filibuster that was keeping the measure from being attached to a broader energy bill. Republican senators argued that the nearly $29 billion in additional taxes on major oil companies would have led to reduced production and higher gasoline prices.
Because of Republican opposition, Democrats needed 60 votes to allow the $32 billion tax package to come up for a vote, but fell short, 57-36. With a number of senators not voting, Democrats could resurrect the measure later, though there was no immediate indication of that.
The tax proposal had some bipartisan support, but also attracted sharp criticism from many Republican senators who lined up against it.
Location: In an illegal immigrant free part of the country.
2,096 posts, read 1,467,844 times
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Quote:
Originally Posted by Davart
I understand your concerns, but think about it before you react ... who would REALLY pay that tax?
The oil company?
Or use folks already paying record gas prices?
Companies always without fail pass cost along and us poor saps at the bottom get hit with the bill.
OK you got me. I am just so sick of the big oil companies making record profits while we are being gouged at the pump. Of course they would just pass it on to us. I have a big SUV but because everything is within walking distance a tank last us more than two months.
The way to combat this is to simply drive less. Oil and gasoline prices are not going to go back down, at least not significantly or permanently. Complaining about gasoline prices does nothing because neither the government nor oil companies care about the plight of the working class. I actually moved closer to work, reducing my drive time from 45-minutes, each way, to 10-minutes, each way. It's one of the best decisions I've made in a long time.
I understand your concerns, but think about it before you react ... who would REALLY pay that tax?
The oil company?
Or use folks already paying record gas prices?
Companies always without fail pass cost along and us poor saps at the bottom get hit with the bill.
right you are davart! no offense citigirl, when businesses have to absorb a cost increase they have to raise prices, to maintain the same level of profit, there is nothing wrong with that. dont buy in to this ridicules nonsense about the oil company profits. that is exactly why the dems keep harping on it because it makes it alot easier for them to go after them. remember big tobacco? take from the rich and give to who WE decide needs it more! sound familiar? I have posted many times on this forum, state and federal govt make more off a gallon of gas than the oil companys do! now that is something to call your congressman about!
WASHINGTON (AP) — Senate Republicans on Thursday blocked a $32 billion package of tax breaks for renewable energy that would have been financed mostly by new taxes on major oil companies.
Democrats came three votes short of overcoming a threatened GOP filibuster that was keeping the measure from being attached to a broader energy bill. Republican senators argued that the nearly $29 billion in additional taxes on major oil companies would have led to reduced production and higher gasoline prices.
Because of Republican opposition, Democrats needed 60 votes to allow the $32 billion tax package to come up for a vote, but fell short, 57-36. With a number of senators not voting, Democrats could resurrect the measure later, though there was no immediate indication of that.
The tax proposal had some bipartisan support, but also attracted sharp criticism from many Republican senators who lined up against it.
One thing to remember is the government makes as much profit on a barrel of oil as the oil companies. The only difference is the government doesn’t do anything for it they just put their hand out and say pay up.
It's "a_lot easier" to make profits when huge profit makers like oil companies get tax breaks (which the GOP glad gives them).
“which the GOP glad_ly gives them”, Talk about living in glass houses…….
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