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Senate votes to continue big oil subsidies

Even as a non-partisan report was released showing that cutting tax breaks for oil companies would probably not result in higher pump prices for American drivers, the United States Senate voted Tuesday to continue letting oil companies avoid taxes.

Congressional report: Cutting oil company tax breaks is unlikely to affect...

Opponents of ending tax breaks for big oil companies argue that closing tax loopholes will result in higher prices at the pump, but a report from the non-partisan Congressional Research Service finds that ending the tax breaks is unlikely to cause a rise in prices.