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Ahead of Decision on Renewable Fuel Standard, Braley Calls for an End to Big Oil Tax Breaks

Statement

Date: July 31, 2014
Location: Washington, DC
Issues: Business and Consumers Oil and Gas Taxes

Rep. Bruce Braley (IA-01) today announced his support for the Ending Big Oil Tax Subsidies Act--which would end tax breaks for the largest oil companies, saving taxpayers roughly $40 billion over the next five years.

"Some of the most profitable corporations in history don't need additional handouts from taxpayers," Braley said. "The future of energy isn't in a Saudi oilfield, it's right here in biofuels and wind energy in Iowa--and that's where our resources need to be devoted."

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.


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