VIRGINIA - With gas prices rising and oil companies expected to report massive first quarter profits this week, Rep. Cantor is finding himself in a tough spot defending his votes to maintain billions of dollars in taxpayer subsidies to oil companies [House Vote #153, 3/1/11]. Feeling the heat, even Speaker Boehner suggested Big Oil companies didn’t need these government handouts, stating oil companies are "gonna pay their fair share in taxes and they should," Boehner told ABC News Monday night, adding that, “frankly, they've got some part of this to blame."
Although the House leadership admits that the richest oil companies in the nation don’t need billions in government subsidies, they have voted to continue these obscene handouts. LCV Senior Vice President of Campaigns Navin Nayak released the following statement questioning whose side Rep. Cantor is on, Big Oil or Virginia families:
“In the past three months alone, Congressman Cantor has taken thousands in campaign cash from Big Oil and in return has kept doling out taxpayer dollars to the most profitable companies in the U.S. while Virginia families suffer under sky high prices at the pump. With oil companies poised to announce record profits during these tough economic times it couldn’t be clearer that these companies are the least deserving of taxpayer money and government handouts. It’s past time for Rep. Cantor whose hands are covered in oil to end his support for this obscene corporate welfare and start standing up for the people of Virginia.”
Rep. Cantor received $5,000 from Exxon in the first quarter of 2011. A recent NBC/Wall Street Journal poll found that 74 percent of voters support eliminating tax breaks to oil companies. [NBC/WSJ Poll, February 2011]
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