Oil Execs Get Big Billion-Dollar Windfall From Trump Budget

The Trump/GOP budget bill couldn’t be uglier for most Americans. But it certainly looks beautiful for Trump’s big oil buddies. They didn’t even have to bribe donate to Trump as much as he wanted to get it.

Via The New York Times:

During the presidential campaign, Donald J. Trump gathered oil executives at his Mar-a-Lago estate and promised them a powerful return on their investment if they raised $1 billion to help him retake the White House.

The industry never ponied up quite that much, but nevertheless, six months into Mr. Trump’s presidency, oil and gas companies are poised to reap multibillion-dollar windfalls from the administration’s actions so far.

A sweeping domestic policy bill that Mr. Trump signed into law this month includes about $18 billion in new and expanded tax incentives for the oil and gas industry, according to the Joint Committee on Taxation, which analyzes tax policy for Congress. It also includes billions of dollars in tax breaks that aren’t specific to oil and gas but were top oil industry priorities as the law was being negotiated.

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