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DeGette-Markey Bill Revokes $2 Billion Giveaways to Oil Industry

Date: May 27, 2006
Location: Washington, DC
Issues: Oil and Gas


DeGette-Markey Bill Revokes $2 Billion Giveaways to Oil Industry

Democrats Agree with President Bush, Oil Companies don't need more tax breaks

Today, Representatives Diana DeGette (D-CO) and Ed Markey (D-MA) introduced a bill to repeal $2.734 billion in tax cuts and subsidies contained in the Energy Policy Act of 2005. Their bill follows through on President Bush's call to Congress to repeal "unnecessary tax breaks" to energy companies.

"Repealing the billions of dollars in tax breaks for companies like Exxon-Mobil is the first sensible thing President Bush has called for on energy," said Representative DeGette. "Exxon Mobil just posted another multi billion dollar quarterly profit at the same time my constituents are going broke filling up their gas tanks. Repealing these tax cuts is the right thing to do."

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http://www.house.gov/apps/list/press/co01_degette/bigoiltaxbreaks.html

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