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Friday, 05 December 2008
Big Oil Loses House PDF  | Print |  E-mail

House Votes to Rescind Oil Drillers’ Tax Breaks -- House Democrats passed legislation Thursday that would rescind $14 billion in tax breaks & subsidies for oil drillers & reserve the money to develop alternative energy projects and conservation technologies. The measure passed 264 to 163, with many Republicans joining a bloc of Democrats. Passage came despite opposition from the oil industry and the Bush administration.

 
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