Maffei Calls for Rep. Buerkle to Lower Taxes on the Middle Class, not Oil Companies

With gas prices hitting all time highs for this time of year, Congressional candidate Dan Maffei questioned Congresswoman Ann Marie Buerkle’s decision to support higher taxes on the middle class while protecting subsidies for oil companies.  Recent reports suggest that the increases in price are due to speculative trading rather than genuine increases in demand, creating windfall profits for the industry.
 
“It is unfathomable that Rep. Buerkle would vote to protect subsidies for oil companies, then turn right around and vote to raise the Payroll Tax at a time when so many Americans are struggling,” said Maffei.  “Middle class workers need the extra $1000 a year from the lower Payroll Tax to help offset these speculator-driven, sky-high prices.  We need our Representative to vote to protect Central New York’s middle class, not multi-national oil companies and oil speculators.”

Background:

Yardeni Research blames speculators for much of the increase in gas prices. Gas prices are at record highs for this time of the year, and Yardeni Research reports that speculative trading is responsible for much of the increase. [cbsnews.com,  High gas prices: Are traders to blame?, accessed February 23, 2012]

Rep. Buerkle voted to protect oil speculators and oil company subsidies. Rep. Buerkle voted against eliminating various tax subsidies for large oil companies, voted against making oil companies pay fair royalties to drill on public lands, and voted to cut funding for the Commodities Futures Trading Commission (CFTC), the agency tasked with policing price manipulation in oil markets. [clerk.house.gov, Vote 109, Vote 153, and Vote 458, accessed February 23, 2012]

Rep. Buerkle voted against extending the Payroll Tax cut.  [clerk.house.gov, Vote 72, accessed February 23, 2012]

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