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Wednesday, May 11, 2011

Dems call for ending tax breaks to big oil

The Columbus Dispatch:

"WASHINGTON -- Both political parties sought to capitalize on anger over gasoline prices yesterday as Senate Democrats unveiled a plan to slash tax deductions for the nation's five biggest oil companies and Republicans pushed legislation to speed up offshore drilling.

The Senate launched debate on the Democrats' proposal to raise $21 billion over the next 10 years -- and dedicate that money to cutting the federal deficit -- by barring major oil companies from claiming several tax deductions and credits."

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