2012 Scorecard Vote
Senator Robert Menendez (D-NJ) sponsored S. 2204, the Repeal Big Oil Tax Subsidies Act, which would close tax loopholes for the nation's largest oil companies and direct the savings toward investments in clean energy, energy efficiency, and deficit reduction. Massive oil companies reported profits of nearly $1 trillion during the past decade and $90 billion in just the first nine months of 2012 alone, so they have no need for taxpayer handouts. Ending these wasteful subsidies would also stop the practice of subsidizing a dangerous product that is fueling climate change and polluting our air, water, and land. Using some of these savings, the bill would extend for an additional year tax incentives for electric vehicles, cellulosic biofuels, energy-efficient homes and appliances, and numerous forms of clean energy. The remaining savings from repealing Big Oil's subsidies - nearly $11 billion - would be put towards reducing the deficit. Although it would also support harmful fuels like coal-to-liquids, S. 2204 would, on balance, represent a critical move away from dirty fossil fuels in favor of cleaner forms of energy. On March 29, the Senate rejected a motion to curtail debate and pass S. 2204 by a vote of 51-47 (60 votes were needed for the motion to pass; Senate roll call vote 63). YES IS THE PRO-ENVIRONMENT VOTE.