$4 Billion Among Friends»

Our guest blogger is James Kvaal, Domestic Policy Advisor at the Center for American Progress Action Fund.

Later today, Sen. John McCain (R-AZ) will visit the Petroleum Club of Denver to pick up a stack of cash for his presidential campaign. He should get a warm welcome from the oil and gas executives who show up.

The centerpiece of Sen. McCain’s plan to stimulate the economy — actually, the whole plan — is large tax cuts for corporations. It would deliver $3.8 billion in tax cuts to the five largest American oil companies, according to an analysis released today by the Center for American Progress Action Fund.

The analysis only looked at one of the McCain corporate tax breaks: the proposal to cut the top corporate tax rate from 35 percent to 25 percent. Read the whole analysis here.

Comments

3

3 Responses to “$4 Billion Among Friends”

1. stateofthedivision Says:

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   This is obviously more important than kids without health insurance (deep sarcasm)

   March 27th, 2008 at 11:00 pm

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2. christopher wiwi Says:

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   Yep more important than kids without s-chip, kids in poverty,high school kids looking for $$$$ for college, grown men and women needing jobs and $4 a gallon GAS and we have this all this again if this guy wins in november (deep deep oil well drilling sarcasm)

   March 28th, 2008 at 9:39 am

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3. williamf Says:

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   You can tell by the lack of clamor coming from “our representatives” that they do not want to fight with big oil. It is so obvious that we’re being ripped off but there is no one in our corner to do anything. Exxon for example takes a 40 billion profit in the last quarter, you have to know the rise in the cost of gas is not just refinery availability or construction, it’s about gouging us because…they can. Or only hope is Congress and we all know by now they are useless.

   March 30th, 2008 at 1:09 pm

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