May 18, 2011

Ron Johnson (R-BP) Votes to Preserve Big Oil Subsidies

Democratic Party of Wisconsin Calls on Ron Johnson to Disclose Whether He Still Owns Stock in Big Oil

MADISON – Senator Ron Johnson yesterday voted against a Democratic bill that would have stripped big oil companies of multi-billion dollar annual tax subsidies.

Johnson’s preference for multi-billion dollar tax breaks for special interests seeing record profits, while supporting a Tea Party budget that proposes draconian spending cuts to programs that preserve healthcare funding for children, the elderly and the poor, is particularly troubling in light of his prior investments in Big Oil.

On the campaign trail, Johnson flip-flop-flipped on the issue of whether he would sell his stock in BP, first claiming he would not sell, then that he would sell the stock to pay for his campaign, and then that he wasn't sure if he would sell the stock.

“With gas prices rising, working Wisconsin families are struggling to make ends meet, yet Ron Johnson voted to preserve billions of dollars in corporate welfare for the special interests that helped support his political campaign,” Democratic Party of Wisconsin Chair Mike Tate said Wednesday. “The people of Wisconsin deserve an explanation from Ron Johnson – and he can start with disclosing whether he still holds financial interests in Big Oil.”