Aside from the fact that Mitch McConnell is not the Senate Majority Leader (sorry TPM…but it’s not true) this quote is priceless:
“If someone in the administration can show me that raising taxes on American energy production will lower gas prices and create jobs, then I will gladly discuss it.”
Big oil companies once again are making record profits in the billions. This is not a surprise given the price of oil and gasoline right now. I don’t have a problem with this either as oil companies don’t set the market price of oil. However the subsidies have to end.
To try to deflect that by saying ending $4 billion in subsidies to these companies by talking about lowering gas prices and creating jobs is ridiculous. It certainly isn’t going to hurt job creation as these companies can easily afford to hire whomever they wish. And it has nothing to do with lowering gas prices given that they don’t set the price of oil.
McConnell needs to grow a pair. Jeez.
For the tax breaks in question: