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Oil Companies

Yesterday in the Senate, Sen. Roy Blunt again voted to protect tax breaks for Big Oil.  Even in a year when the top five oil companies have raked in over $41 billion - that's billion with a B - and Exxon made 35% more in profits in 2011 than it did in 2010, Blunt decided that Big Oil couldn't possibly be called upon to pay it's fair share.

From the Beacon:

Despite a last-minute appeal by President Barack Obama for Congress to end the tax breaks, Senate Republicans — including U.S. Sen. Roy Blunt, R-Mo. — blocked the bill, which would have diverted some revenue to alternative energy. The 51-47 procedural vote fell short of the 60 votes needed to move forward.

After the vote, Sen. Claire McCaskill, D-Mo., lashed out at GOP senators for blocking what she described as an effort to end “tax giveaways for the most profitable companies in the history of the world.” She said “economic fairness” dictated that profitable oil firms be led away from “the taxpayer trough.” (Click here to watch McCaskill's speech.)

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