Skip to main content

Tax Breaks For the Oil Industry?

May 6, 2011
Pelosi Update

Tax Breaks For the Oil Industry?
As families, workers, and small businesses across the country continue to face tough economic times, record gas prices – averaging nearly $4.00 per gallon – are causing additional hardship. It is especially unfair that these middle class families, workers, and small businesses are also footing the bill for tens of billions in taxpayer subsidies for oil companies which made over $900 billion in profits over the last decade – with another $36 billion in profits just this quarter.


Congresswoman Pelosi speaks on the House on H.R. 1689, the Big Oil Welfare Repeal Act of 2011

Yet on Thursday, every House Republican voted to block consideration of the Big Oil Welfare Repeal Act, which would end one of the most egregious tax breaks for oil companies.

Instead, my colleagues across the aisle dedicated Thursday to pass H.R. 1230, the Restarting American Offshore Leasing Now Act. This bill is yet another boon to the oil industry that would make another catastrophic oil spill more likely and will not bring down prices at the pump.

Democrats introduced legislation because we are determined to protect the rights and pocketbooks of America’s taxpayers by lowering the price at the pump and holding Big Oil accountable.

Defending Women’s Access to Health Services
On Wednesday, the House passed H.R. 3, the No Tax Payer Funding for Abortion Act. This bill is part of a package of extreme legislation to reduce women’s access to legal reproductive health services that Republican leaders are prioritizing instead of focusing on the number one concern of the American people – the creation of jobs.

Under current law, there is no federal taxpayer funding of abortion. The Hyde Amendment – prohibiting federal funding of abortion, except in the cases of rape, incest, or to save the life of the mother – is already enacted each year during appropriations.

This bill takes unprecedented steps far beyond the Hyde Amendment and would, for the first time ever, place restrictions on how women with private insurance can spend private dollars in purchasing health insurance.

As I have throughout my time in Congress, I will continue to fight to ensure a woman’s right to choose. We must preserve the right to privacy while promoting a comprehensive approach to reproductive health care, including planning for healthy families and ensuring comprehensive, medically accurate sex education.

Please feel free to forward this information to your family and friends. To learn more about these efforts, to express your views, or to sign up for email updates, please visit my Web site. I am also on Twitter https://twitter.com/NancyPelosi.