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In 51-47 Vote, Senate Republicans Protect Big Oil Subsidies As Gasoline Profits Soar

By Brad Johnson on March 29, 2012 at 11:59 am

"In 51-47 Vote, Senate Republicans Protect Big Oil Subsidies As Gasoline Profits Soar"

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By a nearly party-line vote of 51-47, the U.S. Senate failed to get the 60 votes needed to eliminate $24 billion in taxpayer subsidies for the five richest oil companies. The Republicans filibustered legislation by Sen. Bob Menendez (D-NJ) which would have cut the subsidies to pay for investment in wind power and energy efficiency. Democrats who joined the Republicans included Sens. Mary Landrieu (D-LA), Ben Nelson (D-NE), Mark Begich (D-AK), and Jim Webb (D-VA). Sen. Susan Collins (R-ME) and retiring Sen. Olympia Snowe (R-ME) broke ranks and voted to cut the tax breaks.

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