Republicans Block Repeal of Oil-Company Tax Breaks Obama Sought
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Senate Republicans blocked a Democratic bill to repeal about $24 billion in U.S. tax breaks for the nation’s biggest oil companies, three days after agreeing to advance the measure as a way to debate energy.
President Barack Obama, speaking at the White House before today’s vote, had urged lawmakers to pass the legislation. Republicans opposed repealing the tax breaks and blamed Obama’s energy policies for the rise in gasoline costs.