Lobbyists Find New Congress is Open for Business Lobbyists who dreaded Democratic control find they’re being heard. by Tom Hamburger and Janet Hook Incoming House Speaker Nancy Pelosi terrified the oil industry late last year when she outlined her priorities for the new Democratic majorities in Congress. Within the first 100 hours, she promised, they would “roll back the multibillion-dollar subsidies for Big Oil.” Last week, however, when Pelosi (D-San Francisco) won House approval of the much-touted bill socking it to the oil companies, it turned out to be considerably less drastic than many in the industry originally feared. Out of an estimated $32 billion in subsidies and tax breaks that the oil companies are scheduled to receive over the next five years, the final House bill cut $5.5 billion. More . . .
Certainly, this is not surprising. Disappointing maybe, but not surprising. Until we find a way to seriously reduce the impact of money on the election process, this kind of thing will continue.
On this day..
- Superhero Quiz - 2007