Mike Conaway: “But under the Democrats' H.R. 6 they passed 11 days ago, Big Oil is defined as any C corporation exploring for oil and…”

“But under the Democrats' H.R. 6 they passed 11 days ago, Big Oil is defined as any C corporation exploring for oil and gas, any C corp. That includes ExxonMobil, all the way down to the smallest C corp, and that is tax phrase, for those out there that might be listening. But it is any C corp that has now got a tax rate that went from 32 to 35 percent, if this H.R. 6 sees the light of day from the Senate, and with the President signing it. So Big Oil includes a lot of folks, hardworking men and women who try to make a living in the oil business. When I ran for Congress 3 years ago, I ran under the idea that being a CPA, being a business man, that that viewpoint was underrepresented in Congress. I did not have any empirical data to substantiate that, but it seemed to be the case. And once I got here, though, I had discovered that there are an awful lot of our colleagues who really do not understand how hard it is to make money, that finding a product that you can sell to somebody else, and having bought or built that product for less than what you sell it for, and all of those kinds of things that go into making money is hard to do.”