"Oil
companies have claimed more than $1.9 billion in federal relief
intended for small businesses, according to a new report. Many of the
same companies already pay a fraction in taxes through a host of
different loopholes and accounting tricks. For example, Phillips 66
boasted an effective tax rate of just 2 percent in the first quarter.
One company even used federal tax write-offs under the coronavirus
stimulus package to secure bonuses for top executives. Meanwhile, Senate Republicans complain that bailing out working families
will make them lazy. The GOP's double standard when it comes to
corporate welfare is a cruel joke on the American people."
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