WASHINGTON – Black Maryland Congressman Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, voted to end subsides for Big Oil, as an amendment to the Republican Continuing Resolution that funded the government for two more weeks. The measure to defund the subsidies was defeated on a nearly party-line vote. The Continuing Resolution was approved and sent to the Senate.
“It pains me that oil companies that made record profits last year will be getting their full subsidies from our government, while the people who are too poor to afford just the oil they need to heat their homes will go wanting,” said Cummings. “People in my District need jobs. They need to rebuild the middle class. They need better education for their kids. Instead of helping them, we’re going to cut the very programs that will help us outbuild, outinnovate and outeducate the countries with whom we are competing. This is just another example of the Republican philosophy of crushing the poor and middle class with cuts, while giving big business every loophole and break they can. Like everything else they’ve brought forth this year, this monstrosity they passed today will not create jobs, will not help the middle class and will not help reduce the debt.”
Economist Mark Zandi of Moody’s, who was Senator John McCain’s primary economic adviser in his run for President, found that the GOP spending bill approved last week would cause 700,000 Americans to lose their jobs.