Senate Majority Leader Harry Reid (D-Nev.) doesn’t seem to be too interested in what a pair of congressional studies have shown and what members of his own party have said about a bill to end tax breaks to large oil companies.
Reid stated on Tuesday that the legislation is necessary to bring down the rising cost of fuel.
“We have to do something about the exorbitant gas prices, and the best way to start with that is to do something about the five big oil companies getting subsidies they don’t need,” he said.
However, studies from both the Congressional Research Service and Congress’ Joint Economic Committee have found that repealing the tax breaks won’t have any impact on the price of gas.
Moreover, Senate Democrats have been very careful to make clear that their legislation is not about reducing the pain millions of commuters are feeling at the pump.
Sen. Bob Menendez (D-N.J.), a co-sponsor of the bill, told reporters last week that “no one has made the claim here that this legislation’s about reducing gas prices.” At the time, Reid seemed to agree with that assessment, telling reporters that ending subisides “would not affect gas prices at all.”
The Senate is expected to hold a procedural vote on the bill sometime this evening, though it is unlikely that Reid and his fellow Democrats will attract the 60 votes required to overcome a filibuster.