Aw, poor gas guys. Obama wants to end their $4 billion in tax breaks.
President Obama urged Congress on Tuesday to take “immediate action” to end tax subsidies for oil and gas companies, as he attempts to limit the political fallout of surging gas prices.
A day before oil firms are set to begin reporting potentially record profits, Obama called on congressional leaders in both parties to roll back more than $4 billion “in unwarranted tax breaks,” saying the money would be better spent on new technology that would reduce the cost of fueling the nation.
How much did you pay for gas today?