Saturday, March 31, 2018

Roskam's One Trick Pony tax cut issue a winner for Big Oil

When it comes to helping his fabulously wealthy pals in Big Oil my congressman Peter Roskam (IL-6) is supremely generous. His $1.5 trillion tax cut bill doles out a few bucks to Mr. Mrs. Middle Class to buy their vote this November, but the true recipients are far removed from the Illinois Sixth. Collectively Big Oil gets $25 billion in one time tax bennies. Leading the pack is Exxon Mobile garnering $5.5 billion; Phillips Petroleum places the windfall track at $2.7 bill. Fracking giant EOG Resources garners the 'show' position at $2.2 billion. That $25 billion is just for starters. Everyone in Big Oil gets a 40% reduction in annual tax rates that lasts into perpetuity. No so for Mr. & Mrs Middle Class whose tax breaks expire within 10 years. Me thinks this tax cut horse race is fixed....and its not for the little guy. The Roskam tax cut bill is a One Trick Pony, owned and trained by Big Oil.

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