Welch: GOP lets oil companies ‘line their pockets' (House rejects Welch amen to strip tax breaks)

[cali]

NEAL P. GOSWAMI
Posted: 05/05/2011 10:51:41 PM EDT

Thursday May 5, 2011

BENNINGTON -- Vermont Rep. Peter Welch on Thursday accused House Republicans of looking the other way as oil companies "line their pockets."

Welch and other Democrats sought to strip big oil companies of federal subsidies through an amendment offered by Welch to an energy bill passed by majority Republicans.

"While oil companies are doing quite well, Vermonters are not. They simply can't afford to fill their gas tanks," Welch said on the House floor. "Congress should be taking steps to cut gas prices, not look the other way while oil companies line their pockets with taxpayer support."

Republican leaders rejected the amendment. It would have repealed 10 oil industry tax breaks and saved taxpayers more than $40 billion over the next decade, according to Welch.

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