Baucus Unveils Plan to End Tax Breaks for Largest Oil and Gas Companies, Invest in Cleaner, Cheaper American Energy
Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) today released a plan to end billions of dollars in tax breaks for large, multinational oil and gas companies and invest in cleaner and cheaper domestic energy sources. The Finance Chairman called his plan a blueprint for legislation that he intends to craft in the Committee. Baucus said today that with energy prices rising and large oil and gas companies announcing billions in first quarter profits, now is the time to end these subsidies and instead direct that investment to cleaner and more affordable domestic energy solutions.
“High gas and energy prices are hitting folks hard in Montana and across the country,” said Baucus. “Now is not the time to stand idly by while large oil and gas companies get billions of dollars in tax breaks – now is the time to take concrete steps toward cleaner, more affordable, domestically-produced energy. Reducing dependence on foreign oil isn’t easy, but this plan puts us on a path toward a clean, affordable energy future that works for our planet – and our pocketbooks.”
