AUFC Praises President's Budget Plan That Shuts Off Big Oil Subsidy Spigot

Following the release of President Obama’s 2017 fiscal budget, Americans United for Change President Brad Woodhouse issued the following statement:
 
“We’re grateful that President Obama has again pointed out and called for an end to the tremendous tax breaks and subsidies received annually by the oil industry, and for also prioritizing greater use of renewable biofuels to improve our environment by reducing harmful greenhouse gas emissions.
 
“At a time of budget deficits, the fact that the oil industry continues to enjoy $35 billion preferential tax treatment over the next ten years is appalling.  As a nation we have many more important spending priorities than lining the pockets of one of the most profitable industries year after year, decade after decade.
 
“In fact, the oil industry has been benefiting at the expense of taxpayers for over 100 years – and it is time to put an end to these tax subsidies. The Federal Government should not be picking winners and losers. For far too long, the oil industry has been the winner and the hardworking American taxpayers have been on the losing side of the equation – propping up Big Oil with their hard earned dollars.”
 
“Now is the time to have a level playing field for all fuels. There is absolutely no reason that one of the world’s most profitable industries should have billions in subsidies and a ‘safety net against low prices.’
 
 
Americans United for Change