Free Republic

Ad Makes Bogus Claim About Cruz Support for Oil SubsidiesHOUSTON, Texas - The Cruz for President Campaign today sent a letter to Iowa radio stations requesting they stop running a false ad placed by America's Renewable Future, a lobbyist group that wants to keep taxpayer subsidies going to the ethanol industry.The ad falsely claims, "Politicians like Ted Cruz support subsidies for Big Oil, but want to end support for ethanol.""It is blatantly false to suggest that Sen. Cruz wants to end the Renewable Fuel Standard while maintaining subsidies for oil," Cruz spokesman Rick Tyler said. "Cruz has repeatedly stated that...

President Obama says he wants to end subsidies for what he calls "the fuel of the past," but lucky for him oil and gas will be the fuels of the future too. His budget-deficit blowout would be so much worse without Big Oil, because the truth is that this industry is subsidizing the government. Much, much worse, actually. The federal Energy Information Administration reports that the industry paid some $35.7 billion in corporate income taxes in 2009, the latest year for which data are available. That alone is about 10% of non-defense discretionary spending—and it would cover a lot of...

We’re still seeing a flood of calls from both sides of the aisle to cut subsidies as part of an overall strategy to reduce spending in Washington. While there is plenty available to cut, there has been a steady and disingenuous conflation being promoted by the White House which seeks to describe certain tax benefits received by companies in all manner of industries as “subsidies for big oil.” Just last week Tim Pawlenty was taking to the stump in an attempt to call out these warped descriptions. MANCHESTER, N.H. – Former Minnesota Gov. Tim Pawlenty called a White House proposal...

Everyone wants to end subsidies to oil companies, from President Obama to John Boehner and Paul Ryan.  My question was "What subsidies?"  Remarkably enough, CNN Money provided the answer. It turns out that they are all tax "breaks."  I even hesitate to call them "breaks" because some of them amount to little more than Congress defining accounting terms such as "capital equipment."  And the total amount of earnings not collected in taxes (which liberals define as a "subsidy") is about $4 billion per year.  Here is how that breaks down. Domestic manufacturing tax deduction -- $1.7 B.  This is a...

Sarah Palin in an interview with Bret Baier was asked if she would remove the oil subsidies to oil companies and the short of her answer was probably not. She says that the four billion that Obama is wanting to strip from the oil companies may not have that much impact on the large oil companies, but would affect the smaller independent explorers who Palin says we want out there with their resources extracting for oil: You have to remember that President Obama – and I’m going to say this with all due respect to the office of the Presidency...