Republican from Wisconsin Takes On Oil Subsidies

Filed in Gather Politics News Channel by on April 13, 2011 0 Comments

Reid Ribble is a freshman congressman from Wisconsin and is a member of the budget committee in the House of Representatives. Rep. Ribble is taking a path not tread by Republicans because it is usually against their interest. Mr. Ribble thinks oil companies should no longer receive oil subsidies from the U.S. government.

Currently oil companies get about $4 billion a year as tax breaks. During the State of the Union address, President Obama asked congress to stop providing oil companies with subsidies in light of record profits. For example, ExxonMobil recorded $31 billion in profits last year. Democrats also introduced a repeal of the subsidy connected to a continuing budget resolution but the Republicans.

During his appearance on C-SPAN, Ribble said the subsidies should be looked at. The congressmanÂ’s spokesperson took it further and said, “America is $14 trillion in debt and as a member of the Budget Committee, Congressman Ribble believes we’ve got to review all our spending priorities.”

“The Congressman sticks by what he said on C-SPAN. He thinks that all energy subsidies should be thoroughly reviewed in this upcoming budget. He believes energy companies should stand on their own without subsidy. It’s time for these companies to sink or swim in the private sector without handouts from the federal taxpayer.”

Other Republicans are joining the Wisconsin congressman to take a stand against big oil. Sen. Mark Kirk (R-IL) called for cutting subsidies and said, “They’re doing just fine on their own.” Rep. Tom Graves (R-GA) called oil subsidies “a manipulation of the market place.”

Republicans went after Sesame Street because they thought the government shouldnÂ’t fund their broadcasts and they can do fine on their own. Sen. Jim DeMint (R-SC) said, “Shows like Sesame Street are thriving, multimillion-dollar enterprises … And, from 2003 to 2006, Sesame Street made more than $211 million from toy and consumer product sales. Big Bird will be just fine without his federal subsidies.”

Hopefully, but it is unlikely, Mr. DeMint and the rest of his Republican colleagues can agree that if Big Bird can do fine without subsidies because Sesame Street made $211 million, oil companies can do without $4 billion in subsidies because they made $31 billion in profits.

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