WASHINGTON – Mississippi’s two Republican senators voted this week against scaling back tax breaks for oil companies, saying greater efforts should be made to tap domestic energy sources.
Thad Cochran and Roger Wicker both voted Tuesday against bringing up the legislation for debate. It aimed to reduce by about $2 billion a year tax breaks to Exxon Mobil, Chevron, ConocoPhillips, BP and Shell. The 52-48 vote fell short of the 60 needed.
“This legislation is an overtly political document that would not ease gasoline prices or improve the ability of U.S. energy companies to produce American oil and gas resources,” Cochran said in a press release.
“The Senate should instead be considering serious ideas to reduce the deficit in ways that will not discourage investment in domestic energy production and, in the end, not place more of a burden on consumers and make our nation more dependent on foreign oil.”
In a Senate speech Wednesday, Wicker said, “Energy independence – a goal we all share – can only be achieved through conservation, innovation and domestic exploration, but domestic exploration must be a part of this in order for us to obtain independence.”
NEMS Daily Journal