Breaking Budgets and Bloated Profits

U.S. Senator John McCain has proposed a gas tax ‘€œholiday.’€ This is a concept that has been universally panned by economists. The average consumer would see almost no savings. It seems clear that it is little more than a pander to people that are struggling with record gas prices. While John McCain offers only smoke and mirrors to the average American, all indications show that his feet are firmly planted on the side of Big Oil and their record profits.

Although he has said in past town halls (Rindge, NH, 11/18/07) that he would ‘€œoppose any tax breaks or good deals for the gas and oil industry’€¦’€ his current tax plan does the exact opposite of what he promised last year. McCain’€™s plan would actually give the top five oil companies $3.8 billion a year in tax breaks. Further, McCain has consistently voted against windfall profits taxes for Big Oil and has voted against taxing them in order to provide rebates to severely strapped consumers.

If John McCain’€™s actual votes in the U.S. Senate are not enough, one would need to only look at the people that he has chosen to surround himself with. At least 15 people working for him, either as fundraisers or as senior campaign staff, have also lobbied for Big Oil. It is also important to note that oil and gas interests have given over $780,000 in campaign contributions to John McCain.

Through his votes in the U.S. Senate, John McCain has certainly not demonstrated the necessary desire to rely more on renewable energy and energy efficiency. He has voted against things like renewable energy tax credits, renewable and energy efficiency programs for farmers, and renewable fuel mandates. Those are just a few examples of what is hardly a distinguished record when it comes to supporting a change from the status quo. This is the same status quo that has broken the budgets of average people while at the same time bloating the profits for McCain’s friends from Big Oil.

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