Sanders Oil Tax Break Amendment Falls

An amendment offered by Senator Bernie Sanders (I-VT) to the American Jobs and Closing Tax Loopholes Act (H.R. 4213) has been defeated by a vote of 35-61.  Under a unanimous consent agreement, the amendment required 60 votes to pass.

According to a press release, it would “repeal $35 billion in oil and gas industry tax breaks.”

The Sanders amendment would devote $25 billion of the savings to deficit reduction. The remaining $10 billion would fund an Energy Efficiency Conservation Block Grant Program, a Sanders proposal created by the 2007 energy bill. “The energy-efficiency investments would lead to the creation of at least 140,000 jobs and would reduce our dependence on foreign oil,” Sanders said.

(credit image – daylife/associated press)


1 Comment

Filed under Energy, Taxes, Unemployment

One response to “Sanders Oil Tax Break Amendment Falls

  1. It is absolutely astouding that Congress-Republican and Democrat-can justify retaining the tax breaks for oil companies after it has been so utterly evidenced that there has been no research or funding to provide for safe drilling in this country’s waters and lands.

    All those apposed to fair taxation of all business should be punished and exiled from Congress. What we have down here on Main Street is a failure to communicate. I guess we’ll have to do it come each one’s next election. We shant forget those who favor business and industry above the best interests of their citizens.

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