The Republicans & Big Oil
For the past two weeks, Republican congressmen faced blistering attacks at
town hall meetings for their vote on the Ryan Plan, which lowers the tax
rate for the wealthy another 10% while dismantling Medicare and Medicaid.
Republicans all claim they are carrying out the will of the people so
lets look at what the people told them: Leave Medicare alone, tax the
rich and stop the oil subsidies. When confronted with the news that oil
companies posted profits of $38 billion in the first quarter, a few
sheepishly agreed, maybe we should take a look at it.
But that is not what they did. On May 5, with the media consumed with
Osama bin Laden, they quietly and unanimously passed the Restarting
American Offshore Drilling Act which, among other things, extends oil
subsidies. This is the second vote in three months they have taken to
protect oil companies taxpayer handouts.
It is no surprise that the GOP protects big oil. The Republican sponsors
of the bill took in $8.8 million from big oil in campaign cash. Rep. Dave
Camp received $77,000. Before the first vote in March, BP contributed
$1,000 to Camp, who is chairman of House Ways and Means. Three other key
players, Speaker Boehner, Kevin McCarthy, House Whip and Michigans Fred
Upton, chairman of Energy and Commerce were all gifted $5,000. Upton was
given $100,000 in the 2010 election. All defeated the Democrats bill to
rescind the subsidies in order to reduce the deficit.
In the past 10 years, Big Oil has contributed $238.7 million to congress,
75% to Republicans. In addition to the Republicans guarding their
subsidies, Dave Camps taxation committee has written thousands of
loopholes in the tax code for them. Last year they paid nothing.
Follow the money, Dave Camp is not looking out for you.
Julie A Racine Marion