President Obama is expected to call on Congress Monday to eliminate billions of dollars in oil industry tax breaks, while setting aside money for his top clean-energy policy priorities. The budget will include $8bn for clean energy programs and R&D while cutting some $3.6bn per year in oil industry tax breaks.
Obama will send his fiscal year 2012 budget request to Congress on Monday. The budget comes as Republicans are calling for massive cuts in spending, unveiling a proposal this week to fund the government through the end of this fiscal year that would cut $100 billion in spending when compared to Obama’s 2011 budget request. Click here to read more
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