Senate Democrats are attempting to eliminate tax breaks for the oil industry. In a recent letter, Senate Democratic leaders asked House Speaker Boehner to remove tax breaks for the oil industry to help cut spending. The letter was signed by Senate Democrats that included Reid, Schumer, and Durbin. The move seems to be mostly political and is not likely to result in any significant change in tax breaks. The Democrats had control of Congress and the White House for two years without eliminating the tax breaks that are referenced in the letter.
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Jim Sutliff