Senate Budget Proposal a Giveaway to Big Oil and Gas, Defense Contractors
WASHINGTON — In a party-line vote, U.S. Senate Republicans overnight approved outlines for drastic budget cuts. According to the text of the proposal, the Senate is set to repeal a fee charged to oil and gas producers for emissions of methane, and would aim to accelerate oil and gas production beyond current record-setting levels with flagrant handouts for Big Oill and a bonanza for defense contractors. In response, Robert Weissman, co-president of Public Citizen, issued the following statement:
“The Senate Republican budget resolution proposes a package that would shower subsidies on Big Oil and gas, accelerate the race to climate catastrophe, deliver tens of billions of dollars to Pentagon contractors, diminish our national security and advance a cruel and xenophobic anti-immigrant program.
“The repeal of a fee on methane emissions would represent a direct handout to the worst actors in the fossil fuel industry—polluters that won’t fix leaky wells and pipes. Significantly, the Biden administration’s methane fee was explicitly paired with a $1.5 billion grant program for oil companies to invest in technology and upgrades to eliminate methane leaks. The budget resolution aims to repeal the fee but still maintains the spending program that gives away money to oil companies, failing to impose any shred of accountability on polluters.
“The spike in Pentagon spending is far worse than it seems. While it is billed as costing $150 billion over two years, the increased spending almost certainly would continue after two years—meaning it is truly a bonanza of $750 billion for Pentagon contractors. Republican plans are to spend much of the money on missile defense programs that won’t work, but will nevertheless jumpstart a global arms race.
“Making this all the worse, this bill will be coupled with a second reconciliation bill to deliver massive tax breaks for the rich and corporations, directly paid for by cuts to healthcare and programs for the poor and vulnerable.
“This is an agenda for corporations and the rich, at the direct expense of the American people.”
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