Tell Congress to End Tax Breaks for Big Oil!

There are many difficult decisions to be made by Congress as they work to reduce the budget deficit. But cutting $40 billion in subsidies and tax breaks for the oil and gas industry should not be difficult. Believe it or not, every year American taxpayers gives four billion dollars in outdated tax breaks and subsidies to one of the most profitable industries on the planet. These loopholes, some of which have been in place for nearly a century, are no longer necessary; in fact, high prices at the pump are reflected in the industry’s record profits in 2010 and 2011. These subsidies and tax breaks for big oil waste taxpayer money, contribute to the federal deficit and lock the United States into a dirty energy future. It is time to eliminate these handouts to a mature and profitable industry. Urge your Congressperson to end tax breaks for Big Oil. CLICK HERE TO HELP! Form letter content from the link above: For nearly a century, oil companies have enjoyed generous subsidies from the federal government at the expense of American taxpayers. Originally intended to support a nascent, homegrown industry, these tax breaks have outlived their purpose, persisting in an age when multi-national oil companies comprise the world's largest and most profitable corporations. The past several years have seen oil companies post record profits to the backdrop of skyrocketing crude oil prices. Despite facing a looming federal deficit the federal government continues to subsidize these companies by more than $4 billion each year. Unnecessary tax breaks contribute to the federal debt and waste taxpayer dollars. I urge you to support efforts to eliminate gas subsidies, and to cut these handouts to the oil industry.  The Joint Economic Committee concluded in a recent report that ending tax breaks for the oil industry will have a negligible impact on both consumer prices and domestic production. Oil subsidies have failed to protect consumers from spikes in gasoline prices. By eliminating these loopholes, we stand only to save American taxpayers billions of dollars a year and encourage investment in alternative energy technologies.  Please follow President Obama's recommendations to repeal oil and gas industry tax breaks.