Claiming Democrats are staging a “dog and pony show”, Senate Minority Leader Mitch McConnell, R-Ky., blasted plans to revoke billions in tax subsidies given to oil companies in a speech on the Senate floor Tuesday.
Eliminating those tax breaks has been a goal of President Barack Obama and congressional Democrats for some time, but there’s been growing pressure for it since the national average for a gallon of gasoline surpassed $4. House Republicans, however, blocked efforts to close those tax loopholes a few weeks ago, and McConnell has called similar efforts in the Democratic-controlled Senate a “political stunt”.
McConnell says Democrats don’t have a plan to deal with rising gas prices or the country’s energy crisis, but instead want to raise taxes on companies such as Exxon, BP, and Chevron as a scapegoat.
From McConnell’s office: