GOP Blocks Tax On Oil Profits

No one should be suprised that the GOP, who have recieved BILLIONS from Oil lobbies, has blocked  proposal to tax Oil Companies’ “windfall’ profits.  HuffPo reports:

WASHINGTON — Senate Republicans blocked a proposal Tuesday to tax the windfall profits of the largest oil companies, despite pleas by Democratic leaders to use the measure to address America’s anger over $4 a gallon gasoline.

The Democratic energy package would have imposed a tax on any “unreasonable” profits of the five largest U.S. oil companies and given the federal government more power to address oil market speculation that the bill’s supporters argue has added to the crude oil price surge.  More>>>

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~ by kstreet67 on June 10, 2008.

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