Ahead of Renewable Fuel Standard decision, Congressman urges Leadership to bring Ending Big Oil Tax Subsidies Act to House floor for a vote
Washington, D.C. - Rep. Bruce Braley (IA-01) today wrote a letter to Speaker John Boehner urging House leadership to bring the Ending Big Oil Tax Subsidies Act of 2013 to the House floor for a vote. Braley previously announced his support for the legislation which would end tax breaks for the largest and most profitable oil companies, saving taxpayers roughly $40 billion over the next five years.
"The future of American energy is in domestic wind turbines and biofuels?and lies in places like Iowa's farmlands, not in Saudi oilfields," Braley said. "We need to be devoting our resources towards clean, homegrown energy, where Iowa has proven to be a global innovator."
The Ending Big Oil Tax Subsidies Act would end a host of tax breaks and loopholes currently used by the largest oil companies, that cost taxpayers billions of dollars annually. See a fact sheet of the bill's specific provisions online HERE.
"At a time when Congress is discussing budget cuts that affect middle class Americans, we do not need to be subsidizing some of the most profitable corporations in history," Braley's letter reads.
Braley has previously called on House leadership to repeal tax subsidies for big oil companies.
In 2011, Braley introduced the Clean Energy Jobs Act, which would have ended the tax breaks given to big oil, while using the savings to create jobs in Iowa, boost the renewable fuels industry and pay down the national deficit.
Braley's letter to Speaker Boehner can be found HERE.
# # #
