Thursday, May 26, 2011

Senate does not eliminate Big Oil tax breaks

Salon points out that all the recent buzz in the Senate about eliminating subsidies for oil companies was nothing more than an empty exercise in political theater. Both parties were able to strengthen their credentials within their bases but the Senate simply did not have the Constitutional power eliminate the subsidies because doing so would raise revenues and by law any legislation that increases revenue MUST originate in the House.

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