Reply #20: Actually there is a better idea from Democrats out there.... [View All]

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Kerry Introduces Bill to Repeal Wasteful Tax Giveaways for Oil Companies at Time of Record, Windfall Profits


Below is a statement from Senator John Kerry:

“For a moment, President Bush finally stopped talking like an oil company executive. Farmers, commuters and American families struggling with record gas prices need help more than oil interests which are giving their CEOs $400 million golden parachutes. I will introduce legislation today to repeal the president’s earlier tax giveaways for oil companies. The top oil executives told Congress they don’t need these tax breaks, and I hope the president was sincere today and will work aggressively to get this passed.

“It’s clear every time people fill up at the pump that the current energy policy is broken. The current policy works for big oil interests, not average Americans. Americans need a real plan that will end our dangerous dependence on foreign oil. Continuing to leave our economy and national security entirely at the mercy of the OPEC-controlled petroleum markets is disastrous. We need affordable, clean and reliable transportation fuels that will bring economic growth and stability very soon, not in 30 years.”