McCaskill Backs Bill Cutting Oil Company Tax Breaks

With gas prices on the rise and federal debt worries, U.S. Senator Claire McCaskill’s announced her support for legislation that would help address our fiscal crisis by clawing back tax giveaways to the most profitable companies in the world. The bill, which would end certain tax breaks for oil and gas companies is projected to save between $15 and 20 billion in taxpayer dollars. McCaskill says “If we are going to get serious about addressing our national debt, we can no longer afford to keep giving away taxpayer’s money to the most profitable companies in the world. There are going to be some tough decisions when it comes to cutting back, but I hope we can agree that our government writing checks to oil and gas companies with tax dollars should be on the chopping block.”