Bill Press on Air America KPOJ AM. Bill is interviewing Bernie Sanders, a kindly old Liberal who is known for laying out the truth, that is telling him about corporate oil companies that don't pay a dime for taxes. Then stating as a, matter of fact, that they get million$ of dollars back from the government. Hmm, think I'll have a cup of coffee...G:
Ending Big Oil's Tax Breaks
US Senator Bernie Sanders
June 9, 2010
The United States heavily subsidizes oil and gas production while failing to make significant investments in safer, cleaner renewable energy sources. According to the Environmental Law Institute, the U.S. from 2002 to 2008 provided more than $70 billion in fossil fuel subsidies, compared to only $12 billion for wind, solar, geothermal, biomass, and other renewable energy. Sen. Bernie Sanders Wednesday proposed repealing more than $35 billion in oil and gas industry tax breaks and investing $10 billion of the savings in the energy efficiency and the remaining $25 billion to reduce the federal deficit. “What the amendment does is help transform our energy system away from fossil fuels, end unjustified tax breaks, cut the deficit and invest in energy efficiency,” Sanders said.
To read the senator's press release and the amendment itself, click here.