RELEASE: Mike McFadden Doubles Down on Support For Tax Breaks for Big Oil, Companies That Ship Jobs Overseas

Mike McFadden Doubles Down on Support For Tax Breaks for Big Oil, Companies That Ship Jobs Overseas
New McFadden ad attacks Franken again for voting to end wasteful tax giveaways

ST. PAUL [9/16/14]—Investment banker Mike McFadden doubled down today on his support for tax breaks for companies that ship jobs overseas AND for big oil and gas companies.

McFadden reinforced his profits-over-people philosophy again today in a new ad when he attacked Sen. Al Franken on three votes to end tax breaks for companies that ship jobs overseas and tax breaks for big oil and gas companies. McFadden continues to make it clear to Minnesotans that he supports the wasteful tax giveaways Sen. Franken has been working to eliminate.

“The fact that investment banker Mike McFadden doubled down today on his support for tax breaks for corporations that ship jobs overseas and for big oil and gas companies just shows that he will always put profits over people, no matter the cost,” said Alexandra Fetissoff, Franken campaign spokeswoman.“Sen. Franken has voted to end these wasteful tax breaks because he knows they’re wrong.”

###

McFadden Repeatedly Defends Tax Loopholes For Companies That Ship Jobs Overseas. McFadden’s ad attacks Franken for voting for a measure that would end tax breaks for companies that ship jobs overseas. According to the Washington Post, “To pay for the new spending, the measure would cut off in March 2014 an expansion of food-stamp benefits enacted in last year’s stimulus. And it would end tax breaks for some multinational corporations that are based in the United States but have operations and pay taxes abroad. Closing those ‘loopholes,’ as Democrats call them, is the centerpiece of a House Democratic campaign to promote domestic manufacturing and discourage companies from shipping jobs overseas.” [McFadden Press Release, 9/16/14; WCCO, 9/10/14; Vote 228, 8/5/10; Washington Post, 8/5/10]

McFadden Repeatedly Defends Tax Breaks For Big Oil And Gas Companies. McFadden’s ad attacks Franken for voting for an amendment that, according to The Hill, would “eliminate tax loopholes for the oil and gas industry to fund repeal” of the Affordable Care Act’s 1099 provision. [McFadden Press Release, 9/16/14; McFadden Press Release, 8/19/14; Vote 7, 2/2/11; The Hill, 2/2/11]

McFadden Repeatedly Defends Tax Breaks for Big Oil and Gas Companies. McFadden’s ad attacks Franken for voting in June 2010: “To amend the Internal Revenue Code of 1986 to eliminate big oil and gas company tax loopholes, and to use the resulting increase in revenues to reduce the deficit and to invest in energy efficiency and conservation.” [McFadden Press Release, 9/16/14; WCCO, 9/10/14; Vote 187, 6/15/10]

The post RELEASE: Mike McFadden Doubles Down on Support For Tax Breaks for Big Oil, Companies That Ship Jobs Overseas appeared first on U.S. Senator Al Franken, Minnesota -- Official Campaign Website.