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Biden Pledges to End $90 Billion Worth of Tax Breaks for Gas Companies


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Biden Pledges to End $90 Billion Worth of Tax Breaks for Gas Companies

During a Wednesday press conference to promote his “Build Back Better” agenda, President Biden pledged to end tax breaks for energy companies in the fossil-fuel business, raising $90 billion dollars in revenue for the federal government.

The president justified the proposal as it would “make polluters pay to clean up the messes they’ve made,” seemingly nodding to oil spills, natural gas leaks, and other mishaps.

“We’re not asking them to do anything that is unfair. We’re just not going to subsidize them anymore, they’re doing well thank you,” Biden said in reference to the oil conglomerates.

Biden’s comments come as gas prices have surged across the nation, reaching their highest levels in years, amid inflationary pressures resulting from pandemic supply and demand squeezes.

The Colonial pipeline hack and shutdown exacerbated the disequilibrium, cutting off 45 percent of all fuel consumed along the East Coast for four consecutive days after a ransomware attack on the facility.

The gargantuan size and scope of the “Build Back Better” infrastructure package has had many Republican lawmakers concerned about its price tag and how to fundraise for it.

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Get ready for even higher gasoline prices thanks to Biden taxing the oil companies. He has cut pipelines, drilling, and now is raising their taxes, and consumers pay for it all.

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I really begin to suspect this man has dementia and simply does not understand what he is doing but trusts what his handlers are telling him.

I can imagine how betrayed those who voted for this jerk in the primaries feel about him now.

it's something akin to how gop voters felt about mccain at the end of 2008.

:lol:

 

 

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6 minutes ago, NipkowDisc said:

I  can imagine how betrayed those who voted for this jerk in the primaries feel about him now.

 

 

He is fulfilling a campaign promise and will be applauded by millions of smart Americans.

You got things totally wrong as usual.

Only utterly brainwashed fools or corrupt fat cats think that oil companies still deserve $90 billion in tax breaks while the poverty rate in America skyrockets.

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16 minutes ago, Bogie56 said:

He is fulfilling a campaign promise and will be applauded by millions of smart Americans.

You got things totally wrong as usual.

Only utterly brainwashed fools or corrupt fat cats think that oil companies still deserve $90 billion in tax breaks while the poverty rate in America skyrockets.

those poor poverty-stricken folks are dealing with the same high gas prices that the more fortunate are.

:P

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Just now, NipkowDisc said:

would you be prepared to say that miracle worker joe biden will have gas prices way down by the end of the year?

:)

Who cares.  In the long run prices will level as the demand for fossil fuel energy decreases.

BTW, how do Republicans plan on paying for the Infrastructure?  With user fees, that's how.  That means higher taxes for the middle and lower class on things like  .... gasoline while they protect the income of people making over 400k per year.

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if you mental giants here make laughable excuses for biden then you are no different than the trump supporters you have labeled as brain dead.

the reason biden got the nomination is because the other dem candidates scared the sheet out of the dem primary voters...and let me say this...

Beto O'Rourke was not really all that bad but he shot himself politically in the foot with his irate hostility to the 2nd amendment.

if he had toned his anti-2nd amendment language down he might have had more of a shot then he did.

so we wind up with a dementia-inhibited schtootz.

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4 minutes ago, Bogie56 said:

Who cares.  In the long run prices will level as the demand for fossil fuel energy decreases.

BTW, how do Republicans plan on paying for the Infrastructure?  With user fees, that's how.  That means higher taxes for the middle and lower class on things like  .... gasoline while they protect the income of people making over 400k per year.

your 'long run' may be painful for a lot of americans.

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this has always been the problem with the democratic party...HATE comes first!

they wanna hurt the big oil companies but USUALLY make it tough for consumers and the middle class.

so biden will hurt everyone just to get back at the fossil fuel industry.

whether you like it or not those fat cats help to drive our capitalist-based economy. they are unfortunately a necessary evil that we must tolerate.

your democratic party will bring the ceiling down on top of all our heads!....the rich AND the poor!

 

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17 minutes ago, NipkowDisc said:

this has always been the problem with the democratic party...HATE comes first!

they wanna hurt the big oil companies but USUALLY make it tough for consumers and the middle class.

so biden will hurt everyone just to get back at the fossil fuel industry.

whether you like it or not those fat cats help to drive our capitalist-based economy. they are unfortunately a necessary evil that we must tolerate.

your democratic party will bring the ceiling down on top of all our heads!....the rich AND the poor!

 

That's why stocks are at record levels with Joe Biden.

No one "hates" big business.  I make money off of it BTW.  But democrats want a more equitable world where the middle class grows and not just the billionaire class under Donald Trump and Mitch McConnell.  

You are the perfect Republican supporter.  You literally work for peanuts and give all your loyalty to them.  In exchange we promise to fight to criminalize abortion while having another stem cell cocktail.

Donald_Trump_Family_1.jpg

"We appreciate you sacrifice, Nipkowdisc.  Don't forget to give.  Bigly."

- "Donny" J. Trump.

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Bogie56, trying to separate the gop from big business is like trying to separate special interst groups from american politics. it would be a big waste of time...and the democrats are just as much a part of that sheet as the gop.

doan fool yourself about that. okay...

let biden do it his way...tyried many times before by liberal democrats.

that's when the party out of power starts winning elections again.

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1 minute ago, NipkowDisc said:

Bogie56, trying to separate the gop from big business is like trying to separate special interst groups from american politics. it would be a big waste of time...and the democrats are just as much a part of that sheet as the gop.

doan fool yourself about that. okay...

let biden do it his way...tyried many times before by liberal democrats.

that's when the party out of power starts winning elections again.

If they are just the same why then are you in an uproar about Biden's policy toward the oil companies.

You are so brainwashed by the Rupert Murdoch's and Koch brothers of this world who just want to fleece you.  I pity you.

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equity when it can be a real possibility. biden is taking (if he comprehends) a very big risk by going after big business like sanders and AOC want him to.

the day I will really quake is when he sets kamala loose to push the green new deal along with the squad. that might even scare schumer.

 

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2 minutes ago, Bogie56 said:

If they are just the same why then are you in an uproar about Biden's policy toward the oil companies.

You are so brainwashed by the Rupert Murdoch's and Koch brothers of this world who just want to fleece you.  I pity you.

because I feel if biden goes too far with this he could bring down the whole US economy....and if THAT happens nobody wins.

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32 minutes ago, NipkowDisc said:

because I feel if biden goes too far with this he could bring down the whole US economy....and if THAT happens nobody wins.

And who is winning at the moment?  People living from one pay check to the next while billionaires getter richer by the minute.  The present system is not working for everyone.

Even Trump recognized that!  The problem with him was that he promised to fight for the little guy but as his true nature showed he was only interested in screwing those very people and lining fat cat pockets.

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