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29 Mar 2012  |   Lea Brumfield

Tags: Senate

Today's 51-47 Senate vote on oil subsidies fell short of the 60 votes needed to slash $24 billion in tax breaks for Big Oil.  Moments before the vote, President Obama delivered a speech in the Rose Garden, urging the Senate to side with American taxpayers, not Big Oil.

"I think it's time they got by without more help from taxpayers who are already having a tough enough time paying the bills and filling up their gas tank," the president said. "And I think it's curious that some folks in Congress, who are the first to belittle investments in new sources of energy, are the ones that are fighting the hardest to maintain these giveaways for the oil companies."

Unfortunately, Big Oil’s investment in the Senate has paid off –again.  A Think Progress Green analysis breaks down the numbers:

  • The 47 senators voting against the bill have received $23,582,500 in career contributions from oil and gas. The 51 senators voting to repeal oil tax breaks have received $5,873,600.
  • The senators who voted for Big Oil’s handouts received on average over four times as much career oil cash as those who voted to end them.

A complete breakdown of oil money Senate contributions can be found at Think Progress.

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