Obama Budget Rescinds Oil, Gas Industry Tax Breaks - NYTimes.com: "WASHINGTON (AP) -- President Barack Obama wants to end $26 billion in oil and gas industry tax breaks, calling them ''unjustifiable loopholes'' in the tax system that other companies do not get.
Obama's proposed fiscal 2010 budget, details of which were released Thursday, also more clearly spells out his intention to shut down a proposed nuclear waste dump at Yucca Mountain in Nevada and calls for ending a government subsidy that helps utilities license and plan for new nuclear power plants.
The oil and gas industry tax breaks have often been targeted by congressional Democrats in recent years, but they have not been able to muster enough votes to rescind them. Most Republicans and the Bush administration vigorously defended the tax benefits, saying they're needed to boost domestic oil and gas development."
Guess who will be paying more for oil and gas now people? We will.
How is that big tax break working out for all the people who voted for Obama doing? Is that $8-12 dollars you get every week going to make up for the $26,000,000,000.00 we will now have to pay for for oil and gas?
he said he would do it but no one listened.
Just wait until he does even worse to the coal industry and he has promised and makes coal unaffordable. But you may not think that applies to you, until you try to use electricity that is. Then you will see how much that skyrockets in price as well.
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