ABCNews - Politics
Agree with him or not, it takes some sort of bravery to double-down like this. When your opponents are picking on the price of gas, you call for an end to subsidies:
Agree with him or not, it takes some sort of bravery to double-down like this. When your opponents are picking on the price of gas, you call for an end to subsidies:
Excerpt:
Facing attacks from the campaign trail over the soaring price of gas, President Obama today called for Congress to eliminate $4 billion in subsidies for oil and gas companies, calling them “outrageous” and “inexcusable.”
“I’m asking Congress: Eliminate this oil industry giveaway right away. I want them to vote on this in the next few weeks. Let’s put every single member of Congress on record: You can — you can stand with the oil companies, or you can stand up for the American people,” the president said at a speech in Nashua, N.H.
The president’s proposal isn’t likely to get far in Congress, where Republicans claim the idea amounts to a tax increase on energy production and would not lower gas prices.
“Right now 4 billion of your tax dollars — 4 billion — subsidizes the oil industry every year,” the president said to boos from the crowd at Nashua Community College. “These companies are making record profits right now, tens of billions of dollars a year. Every time you … fill up your gas tank, they’re making money, every time.
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