BRIDGE BRIEFING: Ryan And Energy
Ryan Plan Would Cut Alternative Energy While Protecting Tax Breaks And Subsidies For The Oil And Gas Industry
Ryan Plan Protects Subsidies And Tax Breaks For Big Oil The Ryan Plan Protected Tax Breaks For The Oil Industry. According to an article by Newsweek’s White House Correspondent Daniel Stone, “When House Budget Committee Chairman Paul Ryan unveiled the GOP blueprint for cutting government spending, he asked Americans to make sacrifices on everything from Medicare to education, while preserving lucrative tax subsidies for the booming oil, mining and energy industries.” [Newsweek/The Daily Beast, 6/17/11] Ryan’s Budget Plan Would Not Cut Tax Breaks For Oil Companies. According to the New York Times, “Other energy incentives may go unchallenged, however. Questioned on Fox News on Sunday by Chris Wallace on whether multibillion-dollar subsidies for oil and gas companies would also be eliminated, Mr. Ryan did not give a direct answer. ‘Do you eliminate tax breaks?’ Mr. Wallace asked. ‘Do you bring in new revenue by eliminating, for instance, tax breaks for oil companies?’ ‘The problem with our deficit is not because Americans are taxed too little — the problem with our deficit is because Washington spends too much money,’ Mr. Ryan responded. ‘So we’re not going to go down the path of raising taxes on people.’” [New York Times, 4/6/11] CAP: Ryan’s Plan Ignored That Clean Energy Funding Received $6 Billion While $500 Billion In Subsidies Went To The Oil And Gas Industry. According to the Center for American Progress, “Cutting funds for clean energy investments to rely on ‘greater revenue generation through prosperity, and market based solutions’ also ignores the 100 years of federal support for oil production. According to an analysis by DBL Investors, the oil and gas industry received nearly $500 billion in subsidies over the past 90 years, while investments in renewable technologies were limited to $6 billion. Rep. Ryan’s proposed budget also disregards the economic benefits of a clean energy future to middle-class families. In addition to creating new industries and jobs, clean energy sources that rely on homegrown wind, solar, geothermal energy, or efficiency will insulate Americans from rising and volatile energy prices.” [Center for American Progress, Issues, 3/20/12] CAP: Ryan’s Plan Preserved “Huge Giveaways” To The Oil Industry. According to the Center for American Progress, “The latest House Republican budget plan asks low-income and middle-class Americans to shoulder the entire burden of deficit reduction while simultaneously delivering massive tax breaks to the richest 1 percent and preserving huge giveaways to Big Oil. It’s a recipe for repeating the mistakes of the Bush administration, during which middle-class incomes stagnated and only the privileged few enjoyed enormous gains.” [Center for American Progress, Issues, 3/20/12]BRIDGE BRIEFING: Romney Supports The Ryan Plan
Romney Endorsed Ryan’s 2013 Budget Plan March 2012: Romney Endorsed Rep. Paul Ryan’s 2013 Budget Plan. According to the Los Angeles Times, “Paul Ryan’s new budget plan drew praise from GOP presidential front-runner Mitt Romney and an attack from President Obama’s reelection campaign Tuesday. The House Republicans’ fiscal blueprint for 2013 would slash federal spending, lower tax rates and substantially overhaul Medicare in an effort to free the nation ‘from the crushing burden of debt,’ Ryan wrote in a document outlining the plan. In a statement from his campaign, Romney lauded the House Budget Committee chairman ‘for taking a bold step toward putting our nation back on the track to fiscal sanity.’ He said he and Ryan were of the same mind on cutting taxes and overhauling the tax code. ‘As president, I look forward to working with Chairman Ryan and his House Republican colleagues to pass bold reforms that restore America’s promise,’ he said.” [Los Angeles Times, 3/20/12] Romney Aide Eric Fehrnstrom Said Romney Supported The Ryan Plan. According to Talking Points Memo, “Eric Fehrnstrom, a top campaign adviser for Mitt Romney, tied the Republican presidential nominee to the GOP’s budget plan by Rep. Paul Ryan (R-WI). […] ‘…he’s for the Ryan plan. He believes it goes in the right direction. The governor has also put forward a plan to reduce spending by $500 billion by the year 2016. In fact, he’s put details on the table about how exactly he would achieve that. So to say he doesn’t have a plan to – a plan to restrain government spending is just not true.’” [Talking Points Memo, 6/3/12] Romney Endorsed “What Is Essentially” Ryan’s Plan For Deficit Reduction. According to Politico, “Romney also endorsed what is essentially the Ryan plan for fiscal deficit reduction, bring budget into balance in eight years. Said loophole and special tax deductions would be eliminated to offset cost of tax rate reductions, and include ‘some things you’re not going to like.’ Will close some Federal Government departments. Romney spoke with authority and confidence, and appeared relaxed.” [Politico, 5/24/12]
BRIDGE BRIEFING: Lyin' Ryan
Ryan Lied About A Wisconsin Plant That Closed In 2008
Janesville Gazette: “Obama Wasn’t President When The Plant Closed.” According to the Janesville Gazette, “Rep. Paul Ryan took an example from his hometown Aug. 16 when discussing energy policy in Ohio. Some have questioned his facts. Ryan told the Ohio audience that the Janesville General Motors plant closed in 2009, and he said President Barack Obama’s policies were, in part, to blame. Obama wasn’t president when the plant closed. Production ended in December 2008.” [Janesville Gazette, 8/28/12] Washington Post: Despite Careful Wording, Ryan Implication Inaccurate Because Plant “Largely Closed In December 2008.” According to the Washington Post, “In his acceptance speech, GOP vice presidential nominee Paul Ryan appeared to suggest that President Obama was responsible for the closing of a GM plant in Ryan’s home town of Janesville, Wis. Obama gave his speech in February 2008, and he did say those words. But Ryan’s phrasing, referring to the fact the plant did not last another year, certainly suggests it was shut down in 2009, when Obama was president. Ryan, in fact, issued a news release in June 2008, urging GM to keep the plant open after the automaker announced it would close it. The plant was largely closed in December 2008 when production of General Motors SUVs ceased — before Obama was sworn in. A small crew of about 100 workers completed a contract for production of medium-duty trucks for Isuzu Motors, a contract that ended in April 2009. Note that Ryan called the plant ‘locked up’ rather than ‘shut down.’ That’s because the plant has not been completely shut down; it remains on ‘standby’ and could reopen if GM production reaches the right level, according to the Milwaukee Journal Sentinel.” [Washington Post, 8/30/12]Abel Maldonado's $3 Million Bogus Tax Write-Offs
IRS Claimed Agro-Jal Owed Over $3 Million In Deficient Taxes In 2006 And 2007 Due Partially To Wrongful Deductions. According to a U.S. Tax Court petition filed by Agro-Jal in July 2010, the IRS alleged that the company underpaid its taxes by over $3 million in 2006 and 2007, largely due to tax deductions that the IRS disallowed following an audit. Specifically, the IRS claimed that Agro Jal owed a $1,115,440 deficiency for 2006 and $2,172,800 in 2007 [Agro-Jal Farming Enterprises Inc. v. Commissioner of Internal Revenue, Docket No. 15103-10, Petition, filed 7/2/10] IRS: Agro-Jal Had Pattern Of Deducting Expenses For Properties Unrelated To Business. According to the Form 886-A provided by the IRS to Agro-Jal, the company had established a pattern of wrongfully deducting expenses unrelated to its actual business. These deductions included expenses for repairs and improvements at Maldonado’s home, the home of his brother and sister, and his mother’s home. The IRS alleged the properties were owned by Tri-M, a separate company set up by the Maldonado family, and were not owned or directly utilized by Agro-Jal. The IRS alleged: “It has been well documented that the taxpayer has a pattern of deducting expenses that pertain to real property which it does not own, lease, or conduct any company business of any kind.” [Agro-Jal Farming Enterprises Inc. v. Commissioner of Internal Revenue, Docket No. 15103-10, Petition, Exhibit A, filed 7/2/10]
VIDEO: Paul Ryan's 'Legitimate' Problem
Paul Ryan and Todd Akin are one and the same in limiting access to abortion -- even in cases of…
Paul Ryan Failed To Disclose Investments On Ethics Forms
Vice-presidential candidate Rep. Paul Ryan's tax returns contained investments he failed to disclose on his Congressional financial disclosures. His tax returns reveal the amount of profit or loss, but we still don't know the value of the underlying investment.
Ryan’s Tax Returns Reported Investment In TLS Partners LLC – But Did Not Disclose It In Personal Financial Disclose Forms
Ryan Did Not Disclose Any Stake In TLS Partners In His Personal Financial| Year | Investment Name | Income Profit |
| 2011 | TLS Partners, LLC |
-$75 |
| 2010 | TLS Partners, LLC |
-$103 |
| Total: |
-$178 |
|
Ryan’s Tax Returns Reported Investment In Oil And Natural Gas Exploration Business, LongFellow Energy LP – But Did Not Disclose It In Personal Financial Disclosure Forms
Ryan Did Not Disclose Any Stake In Longfellow Energy LP In His Congressional Personal | Year | Investment Name | Income Profit |
| 2011 | Longfellow Energy, LP |
$6 |
| 2010 | Longfellow Energy, LP |
$158 |
| Total: |
$164 |
|
Ryan Failed to Disclose Role with Family Real Estate Partnership
Ryan Did Not List Position With Ryan Family Real Estate Limited Partnership On Congressional FinancialVIDEO: Watch Mandel Argue with a Video Tape
After grabbing an American Bridge tracker’s camera in an elevator, Josh Mandel has repeatedly attempted to accuse our tracker of initiating contact. The only problem is, witnesses and a video recording of the incident tell a very different story. Despite clear proof to the contrary, Mandel continues to inexplicably lie every chance he gets. But he can't shove the truth into a corner.
NEW VIDEO: Josh Mandel, The No-Show Treasurer
WASHINGTON - On the heels of a report yesterday showing that Josh Mandel has skipped every meeting in his first year in office of eight boards on which he sits, American Bridge today is releasing a new video entitled “Josh Mandel, the No-Show Treasurer.” In Mandel’s second year in office, he has attended a grand total of seven Board of Deposit meetings, which he only started attending after the AP noted his absence. He has still not attended a single meeting of any of the other seven boards.
DEBATE PREP: American Bridge Releases 25 Issue Briefs on Romney’s Record
American Bridge today released 25 policy-based research briefings laying out the truth about Gov. Mitt Romney’s record. Romney recently expressed his concern that President Obama will “say things that aren’t true” in their upcoming debate. It takes some brass for Mitt to make that statement, considering his own history of mendacity.
American Bridge's Questions For Mitt Romney
This year, American Bridge was hoping we’d get the call to host one of the presidential debates. Unfortunately, though admittedly unsurprisingly, that wasn’t the case. While we’re still holding out hope that Candy Crowley will use our best “this or that” submission, these are the questions we would have asked Mitt Wednesday night. (And be sure to click through to our Bridge Briefs to see the answers Mitt wouldn’t have given.) 1) Studies indicate your plan to block grant Medicaid would result in 14-27 million people losing health care insurance, half of them children. Do you think the American people would prefer health care for children or tax cuts for millionaires? 2) What did you mean when you said immigrants come here “looking for a free deal?” Would you veto legislation that offers a path to citizenship for individuals brought here as children and who have proven their commitment to American ideals by completing college or serving in the US military? 3) What did you mean when you said you were open to private sector competition in veterans’ health care? 4) Why would a Romney presidency be different than a Romney governorship, when Massachusetts lagged behind other states in job creation, ranking 47th out of 50? 5) As governor, why did you veto funding for breast and cervical cancer treatment and prevention? 6) Twice in the last 15 years - when the tech bubble burst and the recent Wall Street crisis - many people lost everything they had in the stock market. Do you still support private accounts for Social Security that would subject people’s savings to those fluctuations, and what would you propose so that people who did lose everything didn’t starve? 7) What specific tax breaks and loopholes would you eliminate to make your tax cuts for the wealthy revenue-neutral, and would these be applied to middle- and working-class families? See more questions after the jump.