Never let an crisis go to waste has been Obama's philosophy since he stepped into office. Obama took the opportunity to raise taxes in a sector that has nothing to do to lower the price of gas. Even many politicians had the same feeling. No one can explain how raising taxes on oil companies will lower the price of gas. It may benefit for Obama to pay for some of his stupid policies, but the American people will remember that in November.
(Yahoo) WASHINGTON (AP) — President Barack Obama's plea to Congress to end $4 billion in tax subsidies to oil companies was rebuffed Thursday as the Senate turned back a Democratic bill to repeal the tax breaks.
Moments after Obama made his election-year appeal in the White House Rose Garden, the Senate failed to reach the threshold of votes needed to proceed to a measure that would have ended the subsidies. Obama had argued that Americans are getting hit twice — once at the gas pump, and once more by sending billions of dollars in tax subsidies to oil companies.
The Senate vote was 51-47, short of the 60 votes necessary. Two Republicans voted to proceed to the legislation — Maine Sens. Susan Collins and Olympia Snowe. But four Democrats rejected the effort — Sens. Jim Webb of Virginia, Mary Landrieu of Louisiana, Ben Nelson of Nebraska and Mark Begich of Alaska.
Prior to the vote, Senate Republican leader Mitch McConnell challenged Obama and Democratic leaders.
"Is this the best we have to offer folks who are staring at $4 a gallon gasoline? A bill that even Democrats admit won't do anything to lower the price of gas?" the Kentucky lawmaker asked.