On the recordJune 9, 2010
This amendment helps us lower the record-breaking deficit this country is facing, and this amendment will help us transform our energy system away from fossil fuel--away from the oil disaster that we are seeing in the gulf right now--to energy efficiency and sustainable energy. At a time when the profits of big oil companies are soaring, at a time when we are in the midst of the largest oilspill in our Nation's history--one of the greatest ecological disasters this country has ever experienced--at a time when we desperately need to end our dependence on oil and gas and seriously transform our energy system by investing in energy efficiency, conservation, and renewable energy, this amendment is simple and it is straightforward and I think it addresses all of those concerns. This amendment simply repeals over $35 billion in tax breaks to the oil and gas industry.
