Legislative Background on Oil and Gas Subsidies
Recent Action by Congress on Repealing Industry Tax Breaks
The current (112th) Congress has held at least three votes on rolling back tax breaks for the largest oil companies. Although each vote has had roughly the same result, the last attempt, in an election year, was intended to highlight the different views between Democrats and Republicans in Congress on this contentious and highly politicized issue. Most Recent Senate Votes On May 10, 2011, the Senate held a vote on ending debate on S. 940, introduced by Senator Robert Menendez (NJ-D), to repeal a number of provisions of the tax code beneficial to the oil and gas industry, including a…
