March 1, 2012 Leave a comment
by Gabe Elsner
Today Representative Mike Pompeo (R-Kan.) and Senators Jim DeMint (R-S.C.), Mike Lee (R-Utah) and Ron Johnson (R-Wis.) announced legislation (PDF) that would eliminate investment in renewable energy, while leaving in place $72 billion in tax breaks to the oil and gas industry. They claim their bill, H.R. 3308, doesn’t target a specific industry, but according to a report from the American Petroleum Institute, the two oil and gas subsidies it “cuts” have already (PDF) been zeroed out of the budget.
Combined, these congressmen have accepted more than a quarter of a million dollars in campaign contributions from the oil and gas industries according to the Center for Responsive Politics. Broken down by sector, the oil and gas industry is Rep. Pompeo’s biggest contributors by a more than 3:1 margin.
The bill maintains more than $72 billion in subsidy spending on the oil and gas industries.
I attempted to ask Rep. Pompeo about this glaring omission from his bill. But I was denied access to the press briefing. So I will ask it here:
How can you claim to look out for American taxpayers when your bill only removes two zeroed out oil and gas subsidies and leaves the $72 billion in actual oil and gas tax breaks alone?