WASHINGTON, D.C. – Today, Donald Trump is visiting Andeavor’s oil refinery in North Dakota to continue his push for tax reform.
Oil companies are one of the largest beneficiaries of tax loopholes that cost taxpayers billions of dollars each year. These tax giveaways allow oil companies to pay effective tax rates that are far less than the statutory rate of 35%. The tax credits that go to big oil can be seen here.
Friends of the Earth Senior Political Strategist Ben Schreiber issued the following statement before Trump’s speech:
Donald Trump must be mocking American taxpayers to go to an oil refinery to push his tax plan. For decades oil companies have shirked billions of dollars in taxes every year because of tax loopholes. Under Trump, government handouts to oil companies have only increased. If Trump was serious about a fair economy, he’d start by making sure oil companies pay their fair share.