Friday, October 21, 2011

A place to save $122 billion; stop subsidizing oil companies

"In the current budgetary environment, the United States can no longer afford to give away billions of dollars every year to corporations earning billions of dollars in profits and costing American taxpayers twice: at the pump and through the tax code. We urge the Joint Select Committee on Deficit Reduction to consider eliminating subsidies for fossil fuels as an excellent source of deficit reducing savings. According to a coalition of organizations, eliminating subsidies to the fossil fuels industry could reduce our national debt by up to $122 billion over ten years."

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