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Obama To Congress: Join Boehner And Me In Slashing Oil Subsidies

WASHINGTON — President Barack Obama pressed Congressional leaders Tuesday to take “immediate action” to slash tax breaks for the oil and gas industry and reinvest in clean energy — and aligned himself with Speaker John Boehner (R-Ohio)…

WASHINGTON — President Barack Obama pressed Congressional leaders Tuesday to take “immediate action” to slash tax breaks for the oil and gas industry and reinvest in clean energy — and aligned himself with Speaker John Boehner (R-Ohio) in his message.

“High oil and gasoline prices are weighing on the minds and pocketbooks of every American family,” Obama wrote in a letter to Boehner, House Minority Leader Nancy Pelosi (D-Calif.), Senate Majority Leader Harry Reid (D-Nev.) and Senate Minority Leader Mitch McConnell (R-Ky.).

“While there is no silver bullet to address rising gas prices in the short term, there are steps we can take to ensure the American people don’t fall victim to skyrocketing gas prices over the long term. One of those steps is to eliminate unwarranted tax breaks to the oil and gas industry and invest that revenue into clean energy to reduce our dependence on foreign oil,” he wrote.

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