It was reported earlier this week that in response to incoming House Speaker Nancy Pelosi's plan to repeal the tax cuts for oil companies within the first 100 hours of Democratic rule in the house, Senator Bingaman has expressed opposition to such a measure in the Senate, where he will be chairing the Energy and Natural Resources Committee.
Interestingly, the ranking minority member of the committee will be New Mexico's aging Republican Senator, Pete Domenici, who has been a vigorous supporter of the tax cuts for big oil.
Democrats Plan Oil Royalties Inquiry - New York Times:
WASHINGTON, Dec. 8 — House Democratic leaders vowed Friday to pursue a broad overhaul of tax breaks and other subsidies to oil companies in January, saying that their first target would be an investigation of how the government collects billions of dollars in royalties on oil and gas produced on federal property.
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