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Barton: Govt Subsidies Necessary To Keep Exxon From Going Out Of Business

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Newscom

Barton, perhaps the oil and gas industry's staunchest support on Capitol Hill, says the subsidies for the industry should remain unchanged "so long as you believe that you believe in the free market capitalist system and they should be headquartered in the United States."

Democrats have proposed eliminating the oil and gas subsidies as part of a deficit reduction and spending cut package. The White House estimates that repealing the tax credits would save about $46 billion over 10 years.

Republicans, and some Democrats, have rejected that proposal.

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