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2003-11-25

Bush Backers to Reap Energy, Medicare Bill Tax Benefits

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The Senate abandoned attempts to vote this year on a massive energy bill after Republican leaders refused to drop lawsuit protection for oil companies. We take a look at the energy bill’s environmental implications with the National Environmental Trust and speak with Public Citizen’s Congress Watch on who would receive tax benefits from the bill.

The White House and Republican leaders yesterday abandoned attempts to vote on a massive energy bill this year and will resume the effort after Congress reconvenes in January. The measure would represent the largest overhaul of US energy policy in a decade. The $31 billion bill collapsed after Republican leaders refused to drop a provision shielding oil companies from some lawsuits.

The Washington Post reports both the Medicare and energy bills would give billions in tax benefits to companies run by executives who helped raise millions for President Bush’s campaigns. The energy bill would give billions in tax subsidies to companies run by 22 executives who helped raised at least $100,000 each for Bush’s presidential campaigns. Another 24 people who were major Bush campaign backers work as executives or lobbyists at firms that stand to benefit if the Medicare bill is passed.

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