On Tuesday, House Republicans unanimously voted to continue big oil subsidies worth billions of dollars a year, even as oil companies are enjoying windfall profits from skyrocketing prices. The House GOP have used budget deficits to justify draconian cuts on services for working families but will do nothing to stop this corporate welfare. In a new NBC/Wall Street Journal poll conducted by Hart/McInturff, an overwhelming majority of Americans — 74 percent — support “eliminating tax credits for the oil and gas industries” in order to “reduce the current federal budget deficit”:
Nearly half of the American public “totally” supports eliminating government subsidies for the richest companies in the world, while another 27 percent find it “mostly acceptable.” Even former Shell CEO John Hofmeister and Koch Industries CEO Charles Koch claim to support ending the “crony capitalism” of “mandates, subsidies or protective tariffs.”
The only policies more popular among the American public for restoring fiscal health to the United States in this poll are eliminating unnecessary weapons systems (76 percent), eliminating earmarks (78 percent), and raising taxes on millionaires (81 percent). It’s time for Congress to start serving the American people instead of multinational polluters.