Harry Reid, playing a political game of gotcha is proposing ending oil companies subsidies, worth about $2 billion over ten years.
From the Las Vegas Sun: After weeks of fuming, Senate Democrats are finally attempting to light a match under Republicans by holding a vote to end subsidies for oil and gas companies posting record profits.
It will take a political miracle for them to blow up the relationship between the petroleum industry and the government on the back of this bill. Republicans are opposed to raising the companies’ effective tax burden, which in some cases is higher than the official corporate rate. So are Democrats Mark Begich of Alaska and Mary Landrieu of Louisiana — who said last week that lawmakers from states that don’t produce energy shouldn’t push for what she called job-killing measures in the states that do.
The charge is being led from the top. Senate Majority Leader Harry Reid, D-Nev., along with Sen. Robert Menendez, D-N.J., circulated a “Dear Colleague” letter, urging others in the Democratic caucus to support a legislative effort to end subsidies to oil and gas companies. That call turned into a bill last week, which comes to the Senate floor today.
http://www.lasvegassun.com/news/2011/may/17/harry-reid-leads-effort-repeal-2-billion-oil-tax-b/
If Harry was consistent and actually was serious about this, then Reid should try and get rid of all corporate welfare. Get rid of subsidies in farming, mining (which Harry loves to protect), automobile companies, banking, factories, green energy, high speed railroads etc.
But of course, demented Harry Reid won't do this, Harry is just playing politics and playing class warfare.
I think Harry has better things to do than play games.
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