BP Bailout Press Release

July 14, 2010
By Web Master | 0 comments

Democracy for America, USAction/TrueMajority, and CREDO Action Launched Stop Big Oil Bailout Campaign to Call for End to Taxpayer Subsidies to Dirty Fuels www.StopBigOilBailout.com BURLINGTON, VT Democracy for America (DFA), USAction/TrueMajority, and CREDO Action have joined forces to launch a new online campaign to call for the end of taxpayer bailouts of Big Oil. In the middle of the worst environmental disaster in recent history, the BP oil spill, big oil companies continue to receive enormous taxpayer subsidies while recording record profits. The new campaign, a joint effort of the three organizations, will work to pressure Congress and candidates to end these outrageous government hand-outs. While Congress debates legislation to reduce the effects of global warming, American taxpayers are subsidizing the dirty fuel companies that are causing it, said Charles Chamberlain, Political Director for DFA. Now is the time to end our addiction to dirty fuel and the first step is to end taxpayer giveaways to Big Oil. "It's time for Congress to stop the $35 billion taxpayer bailout to companies like BP, said Adam Quinn of CREDO. "I think taxpayers would rather support clean energy and green jobs than give BP almost a quarter of a million dollars a day in tax subsidies for Deepwater Horizon platform alone. If not now, when?" "It just doesn't make sense to subsidize dirty fuels anymore; oil companies are making record profits on our tax dime. Now that we see the devastation dirty fuels can cause, let's support clean energy innovation that creates new jobs and make our planet a better place to live," said Matt Holland, USAction/TrueMajority. Groups in the coalition were particularly outraged that ExxonMobil, the most profitable corporation in American history, avoided paying any income taxes to the Federal Government last year and then pocketed an additional $46 million from the IRS. [1 and 2] DFA, USAction/TrueMajority, and CREDO Action are collecting petitions to send to Members of Congress and candidates for Congress. Several proposals that reduce or eliminate subsidies to dirty fuel companies exist, including a proposal from Sen. Bernie Sanders (I-VT). Sen. Sanders amendment would end more than $35 billion in tax breaks to big oil and gas companies. [3] _____________________________________________ 1. Oil and Gas Industry: A Decade of Record Breaking Profits: http://www.taxpayer.net/projects.php?action=view&category=&type=Project&proj_id=3559 2. Pumping Tax Dollars to Big Oil: http://www.americanprogress.org/issues/2010/04/oil_subsidies.html 3. Release: Sanders Amendment Would Repeal Big Oil Tax Breaks: http://sanders.senate.gov/newsroom/news/?id=40632a45-5269-4498-807a-66dc78abaa6e Paid for by Democracy for America, www.democracyforamerica.com, and not authorized by any candidate.

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