Senate Democrats are welcoming oil company executives to Capitol Hill this week by challenging whether they deserve tax breaks that pad their profits by billions of dollars a year.
The heads of the five biggest oil companies are to testify Thursday at a Senate Finance Committee hearing. On Wednesday, five Senate Democrats walked to a gas station a few blocks from the Capitol to release a letter to the executives urging them to admit they no longer need taxpayer subsidies.
Senate Democrats have unveiled a bill that would repeal about $2 billion a year in tax breaks for the five largest oil companies _ Shell Oil Co., ExxonMobil, ConocoPhillips, BP America and Chevron Corp.
Republicans and a handful of Democrats are expected to block the bill.