Democrats Pass Bill to Repeal Billions in Oil Subsidies PDF Print E-mail

Denver, Colorado - Today, Democrats in Congress passed a measure through the House of Representatives to repeal $14 billion in subsidies given to "Big Oil" by the Republican Congress and the Bush Administration. The Democratic proposal would reinvest these funds in clean and renewable energy alternatives to get America on the path toward energy independence. During his last State of the Union address, President Bush made grand promises about a comprehensive energy plan, since then the Republican Administration has done nothing to make our nation less dependent on oil. Contrast that with Democrats who have made energy independence a priority by passing legislation in the first 100 hours.

While Americans faced record high gas and fuel prices this past year, big oil companies reaped record profits on top of giveaways from Republicans. Here in Colorado gas prices reached a high of $3.34 forcing Coloradans to pay the price at the pump. Repealing oil subsidies is just one of the many legislative accomplishments Democrats can tout in the new Congress. The Democratically controlled Congress has already passed several historic pieces of legislation as part of their first 100 hours agenda, including bills to reform ethics rules in Congress and end the Republican culture of corruption, to implement the 9-11 Commission recommendations, to raise the minimum wage, and to make college more affordable.

"Democrats in Congress are hard at work on the people's agenda and the issues that matter to Coloradans," said Pat Waak, Chair of the Colorado Democratic Party. "Under Republicans, big oil reaped record profits and huge government subsidies while Coloradans paid the price at the pump. Democrats today said enough is enough. We call on Republicans in the Senate and President Bush to do the right thing and support this important legislation."


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