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Published on Mar 29, 2012
After days of debate on the floor of the U.S. Senate over whether to end taxpayer subsidies to Big Oil, today Republicans rejected a bill authored by Senator Robert Menendez that would have ended taxpayer-funded loopholes to the five largest, most profitable oil companies in the world (Big 5) and use those savings to invest in clean energy and reduce the deficit. While the bill received a majority of votes (51) normally required to pass, it fell short of the 60 votes necessary to overcome a Republican-led procedural hurdle.