Citizens' Daily Lobby

The role of government subsidy of industry, if any, should be to support important, but struggling industries, or to bring new industries into an area.   Currently, government subsidies often work as huge handouts, in the form of tax breaks, to profitable corporations.  Big Oil is no exception.  Even while earning record profits, these corporations have enjoyed tax breaks totaling as much as $45 billion a year.   BP received $225,000 a day by writing off the rent on the Deepwater Horizon rig.

Climate Progress sums up the situation nicely.  “So, essentially, the U.S. taxpayer paid BP to lease a rig that was incorporated in a foreign country for the purpose of avoiding the U.S. corporate tax.”

It’s time to let Congress know the American taxpayer is tired of subsidizing the wealthiest corporations on the planet through tax breaks.  Write Senators Lincoln and Pryor today.  CREDO is circulating this petition that you may sign on-line as well.  (Please note that Sen. Pryor requires a letter through his website as he does not accept petitions and letters from outside groups.  Cut-and-paste works well, but please add a personal touch.)

“At a time of soaring deficits and record unemployment, there’s no excuse for giving Big Oil a $35 billion bailout. I call on my elected officials to end the Big Oil Bailout by repealing all dirty fuel tax breaks and investing the money in green jobs instead. We have to get serious about supporting new, clean energy companies and breaking our addiction to oil.”