Quote of the Day

Thursday, May 24, 2012

Polluter Welfare


From CREDO Action:

How much money will you give to the fossil fuel industry today?

A lot — even if you don't fill up your gas tank. $30 million of our tax dollars go to oil, coal and gas polluters every day in the form of subsidies, tax breaks and loopholes.

Two weeks ago, Sen. Bernie Sanders and Rep. Keith Ellison introduced the End Polluter Welfare Act to end these wasteful giveaways. Congress' inaction has already cost us over $430 million, and the price goes up another $30 million every day.


Congress' continued inaction will cost us $110 billion over ten years, in needless giveaways to the most profitable on the planet.

Just the five largest oil companies alone made more than $1 trillion in profits, just in the last five years. Some of these companies paid no taxes for some of these years.

These fossil fuel companies don't need the extra help. But for them, the math is very simple:

• Oil, gas and coal companies gave $106,993,686 in direct campaign contributions to Congress, and spent $1,077,417,6933,4 on lobbying over the last 10 years.

• Congress gives them $110,000,000,000 of our money in polluter welfare over the next 10 years.

Polluters get a huge return on their investment. We pay the price.

As Republicans and some Democrats continue using growing budget deficits to call for brutal cuts to vital social programs, it is astonishing and shameful that these same politicians are protecting billions upon billions in wasteful polluter welfare to the richest, most dangerous industry on the planet.


No comments:

Post a Comment