Will Big Oil Keep Its Subsidies in a Fiscal-Cliff Deal?
motherjones.com — Democrats and Republicans are duking it out in Washington over a deal to avert the slew of spending cuts and tax increases—the so-called "fiscal cliff" you've heard so much about—that will take start to effect on January 1. Lawmakers on both sides of the aisle have argued that "everything should be on the table" in negotiations toward a deal that trims the nation's debt and avoids the cliff. Yet notably absent from the debate over what to cut and what to spare in a deal are the tens of billions of dollars in subsidies, tax breaks, and other perks for the hugely profitable oil industry. That silence begs the question: Will Big Oil's subsidies go untouched in the fight over a fiscal-cliff deal?