Stabenow To Hold Conference Call On New Bill To End To Big Oil Subsidies, Extend Clean Energy Tax Cuts
WASHINGTON – Today, March 26 at 12:15 p.m., U.S. Senator Debbie Stabenow will host a press conference call to discuss the Repeal Big Oil Tax Subsidies Act. The bill would end taxpayer subsidies for the five largest, most profitable oil companies in the world: BP, Exxon, Shell, Chevron, and ConocoPhillips (the “Big 5”). The savings from ending taxpayer giveaways to big oil companies would pay for tax cuts for job-creating clean energy companies, as well as reduce the deficit.
Over the last decade, the Big 5 have enjoyed nearly $1 trillion in profits and tens of billions of dollars in taxpayer subsidies. Last year alone the Big 5 amassed $137 billion in profits on the backs of American drivers. The Repeal Big Oil Tax Subsidies Act ends more than $2 billion per year in tax breaks for Big Oil and invests savings in clean energy technologies that will make us less dependent on foreign oil, drive economic growth, and create jobs.
WHO: Senator Debbie Stabenow
WHAT: Reporter Conference Call
WHEN: TODAY – Monday, March 26, 12:15 p.m.
CALL-IN NUMBER: Email Miguel_Ayala@stabenow.senate.gov to RSVP